Thursday, March 23, 2023
Bitcoin - Altcoin News
No Result
View All Result
  • Login
No Result
View All Result
Bitcoin News
No Result
View All Result
Home News Bitcoin News

Bitcoin (BTC) Price To Tank to $10K In First Quarter Says VanEck

news by news
January 3, 2023
in Bitcoin News, Bitcoin Price Analysis, News
0
Bitcoin (BTC) Price To Tank to $10K In First Quarter Says VanEck
0
SHARES
1
VIEWS
Share on FacebookShare on Twitter

READ ALSO

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

Bitcoin Volatility

The world’s largest cryptocurrency Bitcoin (BTC) has remained steady for a while at around $16,700 levels and has been trading in a very tight range of the support of $16,600 and a strong resistance of $17,000.

The last year of 2022 witnessed one of the harshest crypto winters in history with the BTC price tanking by nearly 60%. Bitcoin ETF issuer VanEck Investments believe that the Bitcoin correction is still not done with.

VanEck expects the BTC price to fall in the range of $10K-$12K in the first quarter of 2023. The investment giant also expects a few minor bankruptcies to take place in line which would mark the low point in the crypto winter.

On the other hand, Bitcoin whale activity has been on a major decline as reported last week. Thus, there are not many catalysts for the BTC price to rally going ahead. Along with VanEck’s prediction, on-chain data also shows weakness in the BTC price as of the current date. On-chain data provider Santiment reported:

According to @santimentfeed‘s #NVT price prediction model, #Bitcoin & #Ethereum still require some increased network utility to justify current market caps. The circulation rate of both networks needs to pick up in 2023, and this week will be telling as non-holiday days begin.

Courtesy: Santiment

Bitcoin Can Recover In the Second Half of 2023

In its recent prediction, VanEck reported that the Bitcoin price can recover by the second half of 2023 and its price will rise to $30,000. This is nearly 80% from its current price and could be over 100% gains if its falls to $12K.

In the second half of this year, VanEck expects the global macros to improve with lower inflation, easing energy concerns, and a possible truce in Ukraine. Thus, a turnaround in the M2 supply will power the new bull run.

VanEck predicts that Brazil will emerge as one of the most crypto-friendly nations in the world. It also expects financial institutions to tokenize over $10 billion in off-chain assets.

The post Bitcoin (BTC) Price To Tank to $10K In First Quarter Says VanEck appeared first on CoinGape.

Related Posts

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport
Altcoin News

Breaking: Terra CEO Do Kwon Arrested In Montenegro Airport

March 23, 2023
Breaking: SEC Chair Gary Gensler To Appear Before US House Committee
24/7 Cryptocurrency News

Breaking: SEC Chair Gary Gensler To Appear Before US House Committee

March 23, 2023
Breaking: Jack Dorsey’s Block (SQ) Crashes 20% As Hindenburg Report Accuses Of Fraud
24/7 Cryptocurrency News

Breaking: Jack Dorsey’s Block (SQ) Crashes 20% As Hindenburg Report Accuses Of Fraud

March 23, 2023
Breaking: Hindenburg Research Exposes Jack Dorsey’s Block Inc
24/7 Cryptocurrency News

Breaking: Hindenburg Research Exposes Jack Dorsey’s Block Inc

March 23, 2023
Coinbase CEO Brian Armstrong, CLO Grewal Sold COIN Stocks Ahead Of US SEC Action
24/7 Cryptocurrency News

Coinbase CEO Brian Armstrong, CLO Grewal Sold COIN Stocks Ahead Of US SEC Action

March 23, 2023
Crypto Insider: Another 270% Bitcoin Price Rally Possible in 2023 With New ATH
24/7 Cryptocurrency News

Crypto Insider: Another 270% Bitcoin Price Rally Possible in 2023 With New ATH

March 23, 2023
Next Post
XRP Up 5%, On-Chain Data Shows Strong Bull-Case Scenario Ahead

XRP Up 5%, On-Chain Data Shows Strong Bull-Case Scenario Ahead

POPULAR NEWS

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

Bitcoin Price Prediction: On-Chain Data And Analysts Predict More Upside For BTC

December 7, 2022
Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

Crypto Prices Today: Huobi Token, Ethereum, Dogecoin Is Up; Solana Takes A Dip

December 7, 2022
Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

Donald Trump’s NFT Trading Cards Pump 350% In Value Upon Launch

December 17, 2022
Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

Bitcoin Price Today: BTC Rises By Nearly 2% While BlockFi Files For Bankruptcy

December 7, 2022
Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

Breaking: “Guilty” FTX Executive Will Now Cooperate Against SBF In Probe

February 28, 2023

EDITOR'S PICK

With Growing Speculation Of 50bps Rate Hike, Is A Crypto Crash Incoming?

With Growing Speculation Of 50bps Rate Hike, Is A Crypto Crash Incoming?

March 7, 2023
Breaking: RBI Chief Reaffirms Crypto Ban, Warns Of Upcoming Financial Crisis

Breaking: RBI Chief Reaffirms Crypto Ban, Warns Of Upcoming Financial Crisis

December 21, 2022
Breaking: Banks, Crypto Market Rally As US CPI Data Comes In At 6%

Breaking: Banks, Crypto Market Rally As US CPI Data Comes In At 6%

March 14, 2023
Pre-Registration Now Open On GameFi Application DeHeroGame

Pre-Registration Now Open On GameFi Application DeHeroGame

February 24, 2023
Bitcoin - Altcoin News

© 2022 coingger.com

Navigate Site

  • Europe
  • Exchange
  • Elon Musk
  • ETH Price
  • crypto Tax U.S.
  • CZ
  • Crypto Miners
  • BTC Price
  • ChatGPT
  • China crypto
  • Coingecko
  • Binance Smart Chain
  • Bitcoin $100K
  • Airdrop

Follow Us

No Result
View All Result
  • Homepages
    • Home Page 1

© 2022 coingger.com

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In