Bitcoin's Future Perspective: Forecasts 2023-2024

Since the beginning of 2023, Bitcoin (BTC), which has risen by approximately 40%, is enjoying the experience of making a strong start to the year while investors are waiting for this in BTC.

Since the beginning of 2023, Bitcoin (BTC), which has risen by approximately 40%, is enjoying a strong start to the year. While investors are taking positions in the hope that the rise in the largest cryptocurrency will continue in the coming months, noticeable research actually shows that investors are afraid.

4,400 People are Waiting for Bitcoin to Drop Despite widespread optimism among investors, the results of a research published by Morning Consult on January 24 reveal that American adults participating in the January 2023 survey predict a negative future for Bitcoin. Participants expect BTC to be traded at around 15,252 dollars within the next six months.

The price estimate of American adults corresponds to a decrease of about 34% from the current value at the time of writing this article. The fact that the monthly sample size of the research results consists of 4,400 American adults is a significant detail.

Although the asset started the year with a positive price trend, the confidence in Bitcoin among participants is seen to decrease. Although Bitcoin has gained significant value in 2023 and held above the 23,000 dollar level, the asset still faces uncertainty. It is necessary to mention that Bitcoin is moving in almost similar conditions that characterized the bear market of last year.

At present, while Bitcoin seems to be getting rid of macroeconomic uncertainty, short-term projections continue to be volatile. In this case, despite improvement in macroeconomic factors, Bitcoin's expectations are also dependent on the overall health of the US economy, which is facing a possible recession.

Bitcoin Facing a Possibility of Drop The Bitcoin price, which tried to surpass 24,000 dollars after the Fed's decision to raise interest rates at its last FOMC meeting, failed to stay above this level. Especially, the Fed's decision to raise interest rates by 25 basis points, just as expected, put Bitcoin and other risky assets in a vulnerable position.