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After Bitcoin experienced an unprecedented surge last year and fully consolidated into the mainstream, it had a bad year this year, which saw it settle at around €20,000.
This is of course due to many different factors such as the energy crisis, inflation and many more, but that doesn’t ultimately mean it has to go on forever. On the contrary, now may even be the perfect time to take action and invest in Bitcoin yourself. In this regard, at https://kryptowahrung.de/ you have the opportunity to compare different cryptocurrencies and their developments as well as find out more about which trading platform is suitable for your own needs.
For this very reason, in this article, we want to take a close look at the predictions for the coming year 2023 and find out how Bitcoin will continue.
What is bitcoin?
Bitcoin is a digital currency aiming to replace FIAT as the global currency, enabling fast payments between people due to its decentralized nature and peer-to-peer technology. Bitcoin is a decentralized digital currency that operates independently of a central bank, custodian, or user. The value of Bitcoin is determined solely by supply and demand
Bitcoin price prediction for 2023
How should the bitcoin price evolve in 2023? The popularity of Bitcoin has led to the creation of many alternative cryptocurrencies (altcoins). Many of these alternative cryptocurrencies are considered “better” than Bitcoin (BTC) due to their supposedly higher transaction throughput and scalability.
Seen from the outside, this also seems true. Ethereum, which uses blockchain technology in a newer way than Bitcoin, is often considered the best cryptocurrency to invest in. Additionally, several networks have started migrating from the PoW consensus of Bitcoin to the scalable and green PoS algorithm.
Although Bitcoin’s underlying technology is aging, the cryptocurrency is increasingly being used as a form of global currency. Reuters found that small businesses in nine major economies plan to start accepting digital currencies as a form of payment in 2022. Since bitcoin is so widely used, it’s likely these businesses will accept it as a form of payment.
Bitcoin ATMs, which allow customers to exchange fiat currency for bitcoin (or other cryptocurrencies) at the point of sale, have also been widely adopted. The purchased cryptocurrency is then sent to the user’s cryptocurrency wallet via the QR code. According to reports, there are currently over 30,000 Bitcoin ATMs in operation around the world.
Despite the fact that alternative coins may be more convenient and scalable in practice, these factors demonstrate the widespread adoption of BTC. As the widespread adoption of Bitcoin is likely to contribute to its long-term growth, our Bitcoin Price Prediction 2023 suggests that one coin could be worth up to $69,000 by then.
As a result, it can be seen that Bitcoin could celebrate a real renaissance next year and put it back on the radar of a number of investors around the world. In any case, it will be interesting to see how Bitcoin will evolve.
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