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?
Fundamentally, I don't think it can reach $20k+ in the first quarter of the 2023. Please take note that the market is still in a bearish sentiment. We all know that in bearish sentiment everything is harder to surge because it can be countered by a single bad news.
Looking forward for a better price in 2023 is a good thing but we should also consider the condition of the market. Right now, we are still in the grasp of the Fiasco of FTX even though we have a good news about Brazil accepting Bitcoin as mode of payment, but the effect of such law won't reflect asap because it has to be signed by the President and be implemented which I think that the law hasn't been signed by the president yet.