Bitcoin price is displaying some stability above $17,000 as it is holding these levels despite the bearish attempts to drag the price lower.
As the trend remains largely incremental, the token is believed to maintain a steep upswing to regain its price.
Will it reach or cross above $20,000 in Q1 2023?
There is a lot of research and predictions about Bitcoin constantly going on in the world. Various experts and analysts try to give their opinion which results in Bitcoin ever rising and taking opposite position. Predictions are not always effective. As we thought in 2021 the price of Bitcoin will stay at $100000 but that is not possible yet. In the current market, the price of Bitcoin is now at $17000, as many are expecting that it may touch $23000 and on the contrary many people are thinking differently.
Recently, Standard Chartered predicts that Bitcoin price may drop from $17000 to $5000. They think Bitcoin is down 70% from its peak and is likely to hit $5000 by now. They estimate that this could happen in 2023. When such predictions come, there is panic among all about the market. I don't expect a bitcoin price will reach $23000 soon. It will be possible to imagine the level at which the price of Bitcoin may go depending on the nature of the movement in the coming year of 2023.