Will Bitcoin reach the bottom in the new year?

According to the analytical agency CryptoQuant, today the share of unprofitable addresses in the bitcoin network is 55% and this number continues to increase. A similar situation was observed in the market two and four years ago – then bitcoin did not feel very good either.

Analysts note that when the share of unprofitable addresses in the cryptocurrency network exceeds 50%, this indicates that the cryptocurrency is close to reaching its bottom. After that, we can expect further growth. And a number of experts suggest that in the new year bitcoin will move to strengthening and, possibly, will beat its historical maximum ($67,053). Today, the most popular cryptocurrency costs about $16,710.

In general, bitcoin forecasts for 2023 are quite optimistic. Many believe that the crypto market has every chance of recovery by the end of the year. The main argument in favor of this is the assumption that the world's central banks will begin to soften their monetary policy against the background of slowing inflation. As a result, investors will begin to exit the cheaper dollar assets and will again invest in cryptocurrencies.

In this case, the bitcoin price may return to the price level of $25-30 thousand. Ether has a chance to rise to $1,400-1,700. At the same time, experts note that there is no need to talk about a more significant increase in exchange rates, since the difficult geopolitical situation and the energy crisis will not allow the world economy to quickly cope with all existing difficulties.