Can Bitcoin Reach $30,000 in 2023?
Bitcoin's (CRYPTO: BTC) fortunes turned south in 2022 as the token's value fell 64% and both investors and traders began to question the cryptocurrency's future. Bitcoin failed to be a hedge against inflation while falling behind upgraded blockchains like Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) when it comes to utility.
As the calendar turns to 2023, will Bitcoin gain traction and get back to $30,000, or is the bull run over? Here's what you need to consider this year.
Bitcoin has long been touted as a revolutionary new form of money, with its decentralized network and cryptographic security measures making it a safe and potentially disruptive force in the world of finance. However, as the years have gone on, it has become increasingly clear that Bitcoin's true strength lies not in its use as a medium of exchange or payment system, but rather as a store of value.
Source Fool.com
