• Coins
    • Bitcoin
    • Dogecoin
    • Ethereum
    • Litecoin
    • Ripple
    • Tron
    • NFT
  • Cryptonews
  • Blockchain
  • Metaverse
  • Regulation
  • Market Cap
What's Hot

Top 5 NFTs Under 1 ETH To Buy in February 2023

02/03/2023

Ethereum price claims for $1.8K mark: Will ETH win?

02/03/2023

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Trending
  • Top 5 NFTs Under 1 ETH To Buy in February 2023
  • Ethereum price claims for $1.8K mark: Will ETH win?
  • Binance Coin, Helium, and Orbeon Protocol lead market gains
  • Yuga Labs Founder Steps Down From Operations For This Reason
  • Affyn Reveals New Cities for NEXUS World Metaverse
  • Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations
  • Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021
  • Preserving and reinventing music festival legacy in the metaverse
Facebook Twitter Instagram
Center Crypto NewsCenter Crypto News
Demo
  • Coins
    1. Bitcoin
    2. Dogecoin
    3. Ethereum
    4. Litecoin
    5. Ripple
    6. Tron
    7. NFT
    8. View All

    Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

    02/02/2023

    Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

    02/02/2023

    Can Bitcoin (BTC) continue the bullish rally for the entire 2023?

    02/02/2023

    FED To Put Off Interest Rate Hikes, Bitcoin Rallies: Here’s Why

    02/02/2023

    Will DOGE reach $1 in 2023?

    01/31/2023

    Will Dogecoin (DOGE) break the long-term support of $0.05?

    12/19/2022

    Dogecoin surges 9%; Will DOGE outperform other altcoins?

    11/29/2022

    Dogecoin (DOGE) takes support from the 200 EMA curve!

    11/21/2022

    Ethereum price claims for $1.8K mark: Will ETH win?

    02/03/2023

    Total Ethereum Staked On Lido Finance Reaches New Milestone

    02/01/2023

    Ethereum Hovers Above $1,600, What’s The Next Move?

    01/26/2023

    Number Of New Ethereum Validators Remains Flat Ahead Of Shanghai Upgrade

    01/25/2023

    LTC is all set to surpass the $100 mark!

    01/31/2023

    Can Litecoin (LTC) surpass the $82 mark in the third attempt?

    01/12/2023

    Litecoin (LTC) outperforms its peers and showcases huge potential!

    01/04/2023

    Litecoin lacks a buying spree; Support remains relatively stronger

    12/08/2022

    SEC settles on security claim in LBRY case; community calls it a big win for crypto

    01/31/2023

    New Ripple president says her job is to continue to scale amid crypto winter

    01/27/2023

    Circle, Ripple reflect on Davos 2023

    01/26/2023

    Ripple, Binance impersonators target XRP holders via fake staking program

    01/25/2023

    Is it time for a long position in TRX?

    02/01/2023

    TRON spikes 5% today: Can TRX breakout continue?

    01/09/2023

    TRON is likely to regain its previous support of $0.06

    12/15/2022

    TRON (TRX) price plunge may be on the horizon

    12/08/2022

    Top 5 NFTs Under 1 ETH To Buy in February 2023

    02/03/2023

    Yuga Labs Founder Steps Down From Operations For This Reason

    02/02/2023

    5 Newly Launched NFT Projects That May Skyrocket Next

    02/02/2023

    Premier League Signs NFT Deal With This Ethereum-based Game

    02/01/2023

    Top 5 NFTs Under 1 ETH To Buy in February 2023

    02/03/2023

    Ethereum price claims for $1.8K mark: Will ETH win?

    02/03/2023

    Binance Coin, Helium, and Orbeon Protocol lead market gains

    02/03/2023

    Yuga Labs Founder Steps Down From Operations For This Reason

    02/02/2023
  • Cryptonews

    Binance Coin, Helium, and Orbeon Protocol lead market gains

    02/03/2023

    Crypto goes without any mention in the 2023 Union Budget

    02/02/2023

    ENS Domains can now be accessed via OVER’s Marketplace

    02/01/2023

    Orbeon Protocol, ApeCoin and Shiba Inu

    01/31/2023

    FlokiFi locker crosses $9 million in TVL

    01/30/2023
  • Blockchain

    KardiaChain partners with Vibranium Audits & revolutionizes dApp

    02/02/2023

    Djed goes live on Mainnet, beginning a new era of stablecoins

    02/01/2023

    Aave deploys V3 on Ethereum mainnet to mitigate user risk

    01/30/2023

    COTI makes an invaluable contribution to the boosting of Djed

    01/30/2023

    Moonbeam Foundation gets a new Kusama parachain lease

    01/27/2023
  • Metaverse

    Affyn Reveals New Cities for NEXUS World Metaverse

    02/02/2023

    Preserving and reinventing music festival legacy in the metaverse

    02/02/2023

    Meta CEO Zuckerberg steadfast on metaverse plans despite $13.7B setback

    02/02/2023

    How AI can make the metaverse a more interactive space

    01/31/2023

    World’s Biggest Demo Drop in The Sandbox

    01/31/2023
  • Regulation

    US lawmakers renew request for answers from Silvergate on FTX: Report

    02/01/2023

    Panama’s Supreme Court to rule on cryptocurrency legislation

    01/30/2023

    CFTC’s Johnson urges Congress to expand commission’s crypto oversight powers

    01/28/2023

    Genesis sues Roger Ver for $20M over unsettled crypto options trades

    01/26/2023

    NYDFS advises crypto firms not to commingle user and corporate funds in the event of insolvency

    01/24/2023
  • Market Cap
Center Crypto NewsCenter Crypto News
Home»Coins»Bitcoin»Why The Bitcoin Price Could Kick Off 2023 On The Wrong Foot
Bitcoin

Why The Bitcoin Price Could Kick Off 2023 On The Wrong Foot

By 12/29/2022No Comments1 Views
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


The Bitcoin price has finally shown signs of life, albeit to the downside, a direction that might dominate the charts in 2023. During the holidays, the cryptocurrency was stuck on a single level, but the end of 2022 might see 

As of this writing, Bitcoin trades at $16,600 with a 1% loss in the last 24 hours. On higher timeframes, the cryptocurrency records similar losses. Across the crypto market, red is the predominant color as significant assets follow BTC into the downside. 

BTC’s price moving sideways on the daily chart. Source: BTCUSDT Tradingview

Bitcoin Price Bound For A Spike In Volatility

The decline in trading volume due to the holiday season has led the Bitcoin price to move sideways. This status quo is poised to change in early January when market participants return to active trading. 

However, the bulls might have issues pushing the price beyond local resistance at around $17,500 and $19,200, two levels that used to operate as critical support. Historically, the first month of the year is among the worst performers. 

Since 2013, the Bitcoin price has traded in the red for 60% of its monthly performance during January. According to a pseudonym analyst, this period has ended in adverse price action for the benchmark cryptocurrency. 

In addition to negative performance, the Bitcoin price often experiences sudden changes in its value. During this month, the cryptocurrency sees a spike in volatility which historically favors the selling side. The analyst said while sharing the chart below:

We can also see how the percentage change on average in January is quite major. Both up and down. Will January bring some volatility back into the market? (…). Keep in mind that this data is not a reliable indicator for future returns. Use in confluence.

Bitcoin price BTC BTCUSDT Chart 2
BTC price historical monthly performance since 2013. Source: DaanCrypto via Twitter

After The Storm, Will Bitcoin Bounce?

On a positive note, February is one of Bitcoin’s best-performing assets. Last year, the Bitcoin price ascended from a new all-time high of around $30,000 to $60,000. As seen in the chart above, February brought double-digit gains for BTC since 2021. 

Thus, while BTC might see a negative first month in 2023, February and March might become more favorable. This possible future performance coincides with some positive developments in the macroeconomic landscape, including a decrease in inflation and a short-term cap in interest rates hike from the U.S. Federal Reserve (Fed). 

However, these conditions could apply for a limited time. NewsBTC reported that the traditional market would determine much of what happens with the Bitcoin price and the crypto market. 

If equities can rebound from their current levels and kick off 2023 on a high note, the benchmark crypto might follow. According to a report from Coinbase, BTC’s long-term bullish thesis remains strong: 

(…) the value proposition for bitcoin has only strengthened this year as sovereign currencies around the world have shown signs of stress and central banks continue to grapple with policy credibility.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

Related Posts

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

02/02/2023

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

02/02/2023

Can Bitcoin (BTC) continue the bullish rally for the entire 2023?

02/02/2023

Leave A Reply Cancel Reply

Top Posts
Cryptonews

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023
Bitcoin

Crypto Market Still Reeling As Bitcoin’s Break Above $24,000 Triggers Liquidations

02/02/2023
Bitcoin

Bitcoin Short-Term Holder Profit Taking Reaches Levels Not Seen Since Nov. 2021

02/02/2023

Subscribe to Updates

Get the latest Hot news from Center Crypto about Bitcoin, Altcoin, NFT, Market Updates Etc

Advertisement
Demo
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Your source for the serious news. This website is crafted specifically to for crazy and hot cryptonews. Visit our main page for more tons of news.

We're social. Connect with us:

Facebook Twitter Instagram Pinterest YouTube
Top Insights

Top 5 NFTs Under 1 ETH To Buy in February 2023

02/03/2023

Ethereum price claims for $1.8K mark: Will ETH win?

02/03/2023

Binance Coin, Helium, and Orbeon Protocol lead market gains

02/03/2023
Get Informed

Subscribe to Updates

Get the latest Hot news from Center Crypto about Bitcoin, Altcoin, NFT, Market Updates Etc

© 2023 ThemeSphere. Designed by ThemeSphere.
  • Terms & Conditions
  • Contact
  • Privacy Policy
  • DMCA

Type above and press Enter to search. Press Esc to cancel.