Bitcoin (BTC), as of the closing of 2022, remains to be the most popular cryptocurrency. As of the end of December 2022, Bitcoin is valued at almost $17,000. This valuation left a substantial gap of more than $15,000 (88.23%) between BTC and its closest rival, Ethereum. Ethereum was only valued at more than $1,000 at the time.
But despite remaining to be the most robust cryptocurrency in 2022, BTC has depreciated a lot since its peak in November 2021. BTC was valued at more than $60,000 in the said month. But only a year later, BTC lost 71.7% of its value.
With this, investing in other altcoin coins is an option. So is it going downhill for Bitcoin from now on? Is it time to abandon ship to newer cryptocurrencies?
Bitcoin Price Prediction
Looking at the yearly price chart for Bitcoin, we can see that it was worth about $50,000 in December 2021. But at the beginning of 2022, things are beginning to go wrong. Bitcoin’s value fell below $42,000 on January 10, 2022. This is a drop of almost 16% in 10 days. Since then, the price of Bitcoin has changed between $30,000 and $40,000.
In May 2022, Bitcoin was worth about $39,000. Then, suddenly, it dropped 25% in a few days to $29,000. After that, it went back and forth between $29,000 and $31,000. After only one month, the price of bitcoin fell to $19,000 in June 2022. Since then, it has been going back and forth between $19,000 and $20,000. The price went down to $15,000 in November 2022 and has stayed above $20,000 since then.
CryptoPredictions.com says that the price of bitcoin could end 2022 at $17,431.30 and drop to $17,274.38 in 2023. According to the current prediction, BTC could fall further to $16,317.28 in 2024, $13,701.86 in 2025, and just below $15,748.098 in December 2026.
But, BTC will cost $394,710.77 in 2030, up from a conservative $18,029.65 in 2022, $27,235.14 in 2023, and $59,773.26 in 2025. But, Wallet Investor said that the price of BTC would drop to $10,111.96 on December 12, 2023 – another pessimistic prediction.
Frank Glemstone, the financial writer at MoneyZap, says their online money borrowing service experiencing a growth in the number of clients who are trying to borrow money for the sole purpose to invest in the cryptocurrency growing market.
Altcoins Against Bitcoin
So far, the price of Bitcoin has dropped by almost 70%. And it might not get much better anytime soon, according to most financial experts. In the meantime, these altcoins can be seen as new potential streams predicted to be worth a lot more in 2023. Check them out to see if you might be interested in investing in any of them for added protection against the uncertainty of BTC. 1. Dash 2 Trade (D2T)
Dash 2 Trade is an innovative platform with many data-driven features that has raised millions since its presale began. Dash 2 Trade has many unique features, such as crypto trading signals, predictions, and social analytics. You can also use the strategy builder tool to see how easy it is to move around the markets and do many other things. All these features will be part of a great dashboard available in beta next year.
IMPT
IMPT is another cryptocurrency that has done well and is about to explode by 2023. Only three months after starting its presale, IMPT raised a massive $20 million. This shows how big the market for green products is likely to get in the future. Top exchanges like Uniswap, LBank, and Changelly Pro are ready to list IMPT.
IMPT turns carbon credits into non-financial instruments (NFTs). Such NFTs can be traded on specialized markets or kept as investments to help fight climate change.
RobotEra (TARO)
Even though still in pre-sale, RobotEra is one of the most demanded cryptocurrencies. It’s a sandbox-style metaverse where planets can be rebuilt, and NFT communities can get to it.
RobotEra’s P2E gameplay model gives you a lot of ways to make money. It also lets you get TARO, the platform’s utility token. With RobotEra, trade NFTs, stake tokens, go to events, manage lands, and make money from their market.
Wrapping Things Up
Bitcoin is the biggest cryptocurrency right now, yes. But there’s no denying that its value dropped A LOT last year. So, investing in other altcoin coins like Dash 2 Trade, IMPT, and RobotEra could be significant. Such is especially true as they have great presales and are already confirmed on major exchanges.
