Here's what to expect for Bitcoin in 2023
Here's what to expect for Bitcoin in 2023
Are you sitting tight on your wallets not sure what to do next? It can be a hard position to be in as at current Bitcoin is at it's lowest level since 2018 but this isn't necessarily a bad thing as this now indicates that we are at the bottom and end to one of the largest Crypto Winters to date. As always the storm often passes on Crypto and with the sun comes the Crypto spring.
We've come a long way to the bottom since Bitcoins peak in 2021 exceeding $US65,000 but a lot was happening at the time with the peak of the COVID pandemic, Bitcoin ETF's as well as Tesla announcing it's purchase of $US1.5 Billion worth of Bitcoin.
The media frenzie was alive and well and it was almost certainly the time Elon Musk's career was at it's peak. However, since then the former richest man in the world has toyed with too many crypto markets and the Twittersphere creating enemies and losing money.
But the future of Bitcoin might just be around the corner.
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The Outlook
One of the best ways to asses Bitcoin tops and bottoms is from Bitcoin's MVRV Z-Score which is looking like it's hit it's bottom and given there are still trades being undertaken the worlds most famous digital asset isn't over yet.
Another important thing to raise that is currently pending are crypto regulations which, for a long time many have been calling a "bad thing" however, the market has been awash by false centralized entities burning money and people's savings. FTX is today's public enemy number one but there have been many and unless someone puts the breaks on them things won't change.
The SEC is moving slowly as to not want to over regulate the market or impact it too much but we can safely say that once there is a position on regulations we will see a global adoption and most likely a boom in investment as the regulations may see some benefits for retail investors who lose their money.
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In the Beginning
We're still in the early stages of regulation so no one can guess what is in store but we have seen the SEC come out with a Crypto Academy to support peoples knowledge in the market and how to be careful of scams.
The interesting thing about the SEC's crypto academy is that they will be offering four courses which primarily focuses on Bitcoin and how it operates, it's halving and the technology behind it.
The training will also offer past crypto crashes and notorious people in the sector so we can safely say we will see Do Kwon, Sam and a few others make an appearance in a negative light. I guess they really did make history and will be remembered forever......
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2023 The Year of the Bitcoin Bull
Given the information presented and the current occurrences in the market I think it is safe to say that there are a broad range of people waiting in the shadows to launch back into the decentralised world and this year will be the year of the Bitcoin Bull. Will the price reach a new all time high? With regulations in place and the right consumer safety I think Bitcoin will breach $US100,000 and it's not a matter of if, but when!
image sources provided supplemented by Canva Pro subscription. This is not financial advice and readers are advised to undertake their own research or seek professional financial services.
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This is very promising and I think the crypto academy from the SEC is a step in the right direction. I also agree with the narrative that regulation is necessarily not a bad thing as it helps prevent these ponzi schemes wreak havoc in the entire space.
Yup and it also shows the SEC moving in the right direction choosing education over enforcement and shut down.
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Yes, indeed. Almost anything can be understood with education. Enforcement and shutdown wouldn't take us very far.
This is very promising and I think the crypto academy from the SEC is a step in the right direction. I also agree with the narrative that regulation is necessarily not a bad thing as it helps prevent these ponzi schemes wreak havoc in the entire space.
This is very promising and I think the crypto academy from the SEC is a step in the right direction. I also agree with the narrative that regulation is necessarily not a bad thing as it helps prevent these ponzi schemes wreak havoc in the entire space.
This is very promising and I think the crypto academy from the SEC is a step in the right direction. I also agree with the narrative that regulation is necessarily not a bad thing as it helps prevent these ponzi schemes wreak havoc in the entire space.
I am not so sure that BTC will fly upwards in 2023 and I do agree that the SEC doesn't look like they will regulate BTC but they will for any other crypto token. I think stablecoins will be the first to be targetted followed by all the other tokens if they are centralized. I just don't see retail jumping in right now due to the recessionary factors.
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