In 2021, cryptocurrencies were still very popular. Goldman Sachs will now buy and sell cryptocurrencies. In April 2021, Coinbase became the first big cryptocurrency company to go public. In October of that same year, the first U.S. exchange-traded fund focused on Bitcoin started trading.
Bitcoin, which is the most well-known cryptocurrency, had a good year. Since the beginning of 2021, the value of the digital currency has gone up by about 70%. This has pushed the market value of all cryptocurrencies past $2 trillion.
Related: The BTC price prediction for today, January 17, 2023, is:
This year, the value of most of the big coins has gone up a lot, which has been great for the cryptocurrency market. Among other digital currencies, Dogecoin (DOGE), Litecoin (LTC), and Ripple (XRP) are all doing well.
If the history of cryptocurrencies is any indication of the future, investors can look forward to a great trip. Here are a few important predictions for bitcoin in 2023:
How Much Will Ethereum Cost in the Future?
The price of Ethereum, which has been going up, is most likely to stay above $1,500. When daily candles close above $1,500, the price can go up to $1,660, which is the next area of resistance.
Like Bitcoin, Ethereum has broken out of the symmetrical triangle pattern to the upside and formed a “three white soldiers” and a bullish engulfing candle. All of these technical indicators show that investors are very optimistic about the stock market.
How much will bitcoin cost?
On Monday, the price of Bitcoin went up to $21,150. If the price goes up and breaks through its immediate resistance at $21,350, it could go as high as $22,850.
Also, Bitcoin might face more trouble as it gets closer to the $24,500 mark. When “three white soldiers” show up, it means that the trend could keep going up. Bitcoin could find immediate support on the way down near $21,000 or $20,500.
When the double top resistance level of $21,350 is broken today, look for a chance to buy because the RSI and MACD indicators are also pointing in a bullish direction.
Cardano Price Prediction
Cryptocurrency dealers are still arguing about the price of Cardano, the digital token for smart contracts, even though its value has gone up a lot since the start of 2023.
By January 12, ADA investors had gotten a 35% return on their money. The current relief rally is what has given people the wrong idea that the ADA currency has reached its macro bottom.
Cardano is currently trading at $0.3287 after five days of good trading. Since the trend is almost vertical, bulls can now take advantage of the liquidity above December’s monthly high of $0.3290.
The Relative Strength Index, a tool for figuring out how markets might move, shows positive signs despite the recent rise.
The volume indicator went from an average of $200,000 in the winter to $400,000, which backs up the theory that things will get better.
At some point, the market will have to correct itself. Traders should keep an eye out for an increase in volume and the RSI landing zone getting closer to the middle on future red days.
Related: Cryptocurrency price forecast for January 16, 2023: ETH, BTC, and Cardano
Bullish goals would be the psychological price level of $0.4000 and liquidity above $0.3700, which would be up to 21% more than Cardano’s current market value.
A break below the most recent rising trendline would be the first sign that the trend is about to change. The critical level could go up if Cardano’s price keeps going up and stays in line with the trend. Right now, Cardano’s price is around $0.2800.
If the trend breaks and the lows are tested again, the $0.2440 bottom in 2022 might not happen.
