Bitcoin (BTC) Price Prediction 2023: Will Bitcoin Price Reach $35000?
Bitcoin has been in controversy since 2009 and its volatile price value makes everyone confused about whether to choose Bitcoin for trading or not. Now Bitcoin has been the king of cryptocurrency. It covers a market cap of almost $1 trillion. It is the most precious and preferable asset in the world. Although since the start of 2023, a potential drop in the price value of Bitcoins can be seen with more than 41% from its all-time high value of nearly $70,000. And if you want to make bitcoin and crypto analysis simpler, visit websites such as BitSoft360 platform.
Bitcoin Price Analysis
From the start to now, the highest reach of cryptocurrency value is at the $30,000 level, but it is still trading in consolidating manner and hovering more than the $27,950 level at the writing time. After that, the digital assets started correcting their price value once it finds out that the break through the vital resistance level of $30,000 is very difficult to break. Although the residence level of Bitcoin is $32,000 but it remains stable at the count of $29,000. In other words, we can say that the difference in the price value of Bitcoin is about $1.16 trillion.
Moreover, now a slight dip can be seen in the Bitcoin price value of about $28,357.80 as per the previous day. Although Bitcoin’s market capitalization is influential standing at over $566 billion. Therefore while looking at the big scenario of the ongoing trend of Bitcoin, the growth factor can be seen for leading cryptocurrencies. Moreover and we seek consultation from experts, who believe that Bitcoin will significantly pick up price value in the coming months very soon.
The price expectation in the coming months of 2023
The upcoming price trend of the cryptocurrency can never be estimated because there is no particular way out to decide price expectations. Moreover, sometimes experiences also do not help for further estimation of bitcoin price value. So we can say that experiences also vary as per their own experiences. The experts cannot follow any particular consensus for the price tag of cryptocurrency in the coming months because everyone’s opinions flow in an indifferent path. As per the expectations of some analysts, bitcoin could surge to $36,000 or even higher, while others take their approach more cautiously.
We can see that it is trading at around $29,355, with a 26.00% increase over the past week. As a result, the sudden failure of a large bank has brought Bitcoin back into the spotlight and served to remind users of its worth as a borderless, decentralised, and tamper-proof currency. It’s plausible to anticipate that Bitcoin might hit $35,000 by May 2023 given the current market trends and its rising tendency. This would have a favourable effect on the overall cryptocurrency market, maybe leading to even greater profits.
The concept of RenQ Finance (RENQ)
Whereas Bitcoin is the most famous crypto with its worth. Yet it is not the only option for investors in the crypto world. Another option known as RenQ Finance (RENQ) is a decentralized exchange (DEX) that offers multiple cross-chain platforms for trading and further investing the cryptocurrency. Although it carries some advantages over traditional centralized exchanges with fewer inclusion charges, an efficient security system, and faster transactions as well.
Moreover, we can see steady growth since its launch on January 23 where the price value of crypto has increased by over 160%. Moreover, RENQ has lately completed its third presale phase before it had expected to raise over $4.3 million from investors. Investors give great importance to this platform due to its innovative platform, outstanding resale value, and day-by-day increasing demand for the cryptocurrency due to which the value keeps on growing. Moreover, RenQ has made a great hold over cryptocurrency by enhancing interest in DeFi and increasing its adoption in terms of well-positioned growth in the crypto market.
Conclusion
As the investors were expecting different ways to calculate the growth level of the Bitcoin for current ongoing months. Furthermore, Bitcoin has been on a bullish run since the beginning of the year, and the current price of cryptocurrency is approximately $30,000, which has rekindled hope. Can cross the predicted value of about $34,000, if the market will go on in the same trend.