Bitcoin Price Prediction – How BTC Could Reach $30k Before 2023

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Bitcoin has rallied by around 0.1% in the last 24 hours. The largest cryptocurrency is trading sideways today as traders eagerly awaited the decision to be made by the Federal Reserve regarding interest rates.

Bitcoin price prediction

The price of Bitcoin has traded sideways in the last 24 hours amid low volatility. Over the past 24 hours, Bitcoin has traded between $20,285 and $20,644, indicating low volatility and indecision by traders. At the time of writing, Bitcoin was trading at $20,439, according to CoinGecko.

As the buyers and the sellers fight for control, Bitcoin will most likely continue trading at the $20,400 range as the markets await the results of the Federal Open Market Committee (FOMC) meeting.

The movement of the Moving Average Convergence Divergence (MACD) line also shows that the current trend is neither bullish nor bearish. The MACD line is at par with the signal line, indicating that the market is waiting for a macro factor that will influence the price’s direction.

One of the current macro factors at play is the Federal Reserve’s decision on interest rates. The Fed is expected to raise interest rates by 75 basis points this month, which could trigger a plunge in BTC’s price.

Analysts from JPMorgan Stanley have predicted that the S&P 500 index will rally 10% if the Fed raises interest rates by only 50 basis points. The stock market is expected to recover if the Fed slows down rates. Bitcoin has moved in tandem with stocks this year. Therefore, if the Fed’s decision to relax its monetary tightening policies positively affects stock markets, Bitcoin is expected to rally, and it could hit $30K by the start of 2023.

Diversify your portfolio with these altcoins

As Bitcoin reacts to the decisions to be made by the Fed by year-end, you should consider investing in these altcoins that have the potential for significant gains.

One of the best presales today is Dash 2 Trade (D2T). Dash 2 Trade has already raised more than $4 million amid high buying interest. Dash 2 Trade is a crypto trading signals platform giving investors insights to help them make informed trading decisions.

Secondly is the IMPT presale. IMPT.io is a blockchain-based project that wants to lower carbon emissions by transforming the carbon credits market. The IMPT presale has raised more than $11.8 million and is now in the second stage.

The Calvaria presale is also taking off well, having raised more than 1 million USDT. Calvaria is a blockchain gaming platform committed to attracting crypto and non-crypto gamers.

Related

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