Bitcoin has had its ups and downs in 2022. So far, the price has failed to recover from past slumps. It is currently struggling with the USD 16,500 resistance level. How will he be able to start next year? We want to answer this question in this article.
Gold and silver could be good for bitcoin next year
Bitcoin has a market capitalization of more than 317 billion. Today, the price of a BTC token is $16,475. The 24-hour trading volume fell again, sliding to $13.9 billion.
It was a big loss for the starting tire this year. In the last month, the price has fallen by over 30 percentage points. Already in the spring, the value fell down a steep curve. It dropped from $48,000 to below $20,000.
Although opinions on current events in the crypto market differ greatly, the first cryptocurrency has very good forecasts. Many analysts assume that the base will recover and may become even stronger since the crisis.
One of them is Robert Kiyosaki, bestselling author and financial manager. He believes that both gold and bitcoin prices will increase significantly in the near future. on Twitter he writes: “Inflation is rising. Interest rates rise. The stock market will crash sending gold and silver higher. This may be the last chance to buy gold and silver at these low prices.”
I became a gold bug in 1972. I was a Marine pilot in Vietnam flying behind enemy lines hoping to buy gold at a discount because the mine was in enemy hands. It was found that the price of gold is the same all over the world. I predict that silver will go to $75 and gold to $3800 in 2023.
— therealkiyosaki (@theRealKiyosaki) December 29, 2022
He assumes that the price of gold will rise significantly as early as next year. Specifically, he wrote, “I predict that silver will hit $75 and gold will hit $3800 in 2023.” The reason for his assumption is that gold and silver prices have fallen in recent months due to inflation and the high key interest rate. Just as was the case with Bitcoin. The expert wrote about it in October: “Raising interest rates will kill the economy. Stocks, bonds, real estate will fall. The Fed will turn. Buy gold, silver and bitcoin before you reach the Fed.”
Gold & silver prices are falling as the Fed continues to raise interest rates. Silver is out of stock so I am buying physical gold coins. Rising interest rates will kill the economy. Stock, bond, real estate will crash. Nutrition requires a pivot. Buy Gold, Silver & Bitcoin before FED pivot. Take care.
— therealkiyosaki (@theRealKiyosaki) October 29, 2022
His analyzes and forecasts usually focus on gold and silver prices. However, he often refers to Bitcoin and recommends his followers to buy cheap Bitcoin now. As early as September, he advised investors to deal with the subject of cryptocurrencies.
According to Kiyosaki, the price of gold and silver will help push bitcoin higher over the next year. Therefore, in his opinion, investors should not wait too long and take advantage of the current low price.
Bitcoin News: Mining Pool Hack
At the beginning of December, the Bitcoin Mining Pool bit mining chopped. It was published who owns the pool. At the same time, $3 million in assets were stolen.
The Subsidiary bit mining belongs to the leading bitcoin mining pool BTC.com. The company represents a share of over 4% per year.
The Chinese authorities have now begun the investigation. The platform was hit by the hacker attack on December 3. Bit Mining itself emphasizes that they are doing everything they can to recover the losses incurred.
“The company will make significant efforts to recover the stolen digital assets. Btc.com is currently operating as normal and apart from its digital asset services, its client funds services are unaffected.”
Bitcoin: Miner suspends trading in company shares
Well-known bitcoin miner Argo Blockchain recently announced that it has requested a temporary suspension of trading of the company’s shares on December 27th. The reason for this is an announcement the company wanted to make the next day. At first there was no clue what it would entail.
As promised, investors found out the reason for the break the next day on Twitter. Peter Wall, CEO of Argo Blockchain announced that the Helios facility will be sold to Galaxydigital to improve its own liquidity.
We have closed the sale of Helios @galaxydigital; market advantages:
– Debt is reduced by $41m
– Improves liquidity
– Simplifies the operating structure
– It allows us to continue mining
More details: https://t.co/nGv6XK6iK2
Today’s RNS: https://t.co/z0Ay2XbX0L#ARB $ ARBK
— Argo (@ArgoBlockchain) December 29, 2022
Total debt would drop by $41 million to ensure the company can continue mining.
Another bitcoin miner listed Heart Scientist They had to file for bankruptcy protection last week. So it’s not just the investors and traders who are struggling with the unstable prices at the moment. statistics show that combined mining companies are currently about $4 billion in debt.
It could be the turning point of the year for Bitcoin and the entire crypto market. Many analysts are accepting this. If the economic situation eases and interest rate hikes slow again, this could lead to a rate hike. The experts agree on the “if”, the only question is “when”. Another interesting and sporty investment for 2023 could be FightOut.
More investment opportunities – with FightOut
The year 2023 could also be very significant for some other cryptocurrencies. The cryptocurrency FightOut is currently in presale. The developers are looking to release their own fitness app next year. Web3 users will be given access to a fitness studio through the application, which is also planned to open next year.
The sports-loving developers are tasked with encouraging people to do more exercise and sports. Professional videos and live exercises should help with this. Personal trainers should also be available for the athletes in the gym.
The move to earn mechanism should be an important part of the animation. The more sports users do, the more rewards they get. These can be redeemed in FightOut’s own ecosystem.
The presale started a few weeks ago. Early investors can get a token bonus of up to 50%. With a funding goal of $5 million, the developers want to make the app and the first gym available. Both should be completed next year. So the beginning of the year could be not only good for Bitcoin, but also for this new project.
Photo by Aleksi Räisä