While looking at the last year 2022 crypto market we all had a burning question - Will bitcoin go back up? So let us decode the BTC Price for 2023 The largest cryptocurrency by market capitalization, Bitcoin, extended its winning streak to nine days and hit an intraday high of almost $18,078. In a recent study from on-chain analytics source Glassnode, showed how many Bitcoin investors believed there will be a rally in 2023. Bitcoin has been trading below its realized price since September 2022, and after the FTX fall in November BTC prices dropped heavily creating new high spike in new addresses as people “bought the dip” and took advantage of the price fall. The detailed analysis by experts of coinpedia shows the supply of Bitcoin that was profitable revealed that more traders were profitable by January 2023. Since 11.2 million BTC are in profit, indicating that they are already in private addresses. At the time of publication, BTC price is up by 11.79% in last 7 days and trading at $18,798.10. Over the last ten days, the quantity lost has drastically decreased, indicating that a sizable sum has accumulated since the beginning of the month. Earlier Coinpedia projected that a steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19. The current trade set-up flashes bullish signals as the price is preparing to move beyond $19,000 any time from now. Furthermore, on achieving $19,000, the path towards the higher targets becomes pretty clear. The next destination of the BTC price could be $20,000 and after securing above these levels, a notable upswing may uplift the price close to the pivotal resistance at $25,000 and may be by Feb we can see this.
None of that holds much interest for me personally. I'm quite happy having most of my money, to live off, in FIAT. The only question that interests me is: Over the next 5 years, does BTC have better NGU potential than SPY, QQQ, gold, silver etc.
Ahh, you're one of those Robinhood investors that don't do any research on the investments because they don't interest you in your daily life I'm betting real money that Bitcoin will outperform those investments you listed Since you dislike Bitcoin, my advice to you is to research a way to short btc through leveraged futures of some type, I think IB has products or maybe load up on BITI etf's
I'm a cynical old bastard, who no longer believes in anything. I've fallen for investment stories (hype) in the past, and got burned. Now I treat everything as a calculated gamble. And, you know what, I'm inclined to agree with you.
Well darn it *takes foot off mouth* That's what got me into investing in Bitcoin, it's a calculated gamble, asymmetric risk/reward, like a call option with no expiration A rule of thumb I've seen floating around is to take a 5% allocation to Bitcoin So, if your investment portfolio is $100K invest $95K in everything traditional, then $5K to btc The btc within 5 years can hit $100K (over 500% roi from here) $200K (over 1000% roi ) or $500K (over 2500% roi) Calculated gamble in 5 years? What's the downside risk? $0? Really? ok, you lose $5K, but if btc hits $200K, it would have grown likely to be the biggest allocation in the portfolio
Do you know what a calculator is? It's an instrument with which you take two seat-of-the-pants estimates, multiply them, and get accuracy to the second decimal point.
For what it's worth... BTC has broken above the 200-dma. (It's been below the dma since the start of Jan 2022.) In previous bear markets this has signalled that the bear market was exhausted. Of course, this time could be different.
As a security, if it is one, BTC has behaved like a "risk on" security similar to the high P/E NASDAQ stocks unlike precious metals which so far have behaved like a protection against currency drops. I think it makes sense since BTC as a security is a long dated security where there is no money to be made upfront only a lot of money to be made at the back end if you believe it will replace some archaic system in use like banking transactions or N+2 day settlement in the stock market. Really no different than the FinTechs that got crushed since they are currently worthless but could make a lot of money in 5-10 years.