Bitcoin (BTC) Price to Reach $36k in 2023? Bullish Prediction Ahead!

• Bitcoin (BTC) is the first decentralized digital currency built on the blockchain network. It is the most popular virtual currency in the global financial economy.
• Its creators fixed the cryptocurrency’s supply cap at 21 million and only 1.7 million BTC remain to be mined, as of March 2023.
• In this Bitcoin (BTC) price prediction 2023, we will analyze the price patterns of BTC by using accurate trader-friendly technical analysis indicators and predict its future movement.

What is Bitcoin (BTC)?

Bitcoin (BTC) is the pioneer decentralized digital currency built on the peer-to-peer blockchain network Bitcoin. Pseudonymous founder(s) Satoshi Nakamoto introduced BTC and the blockchain in 2009, laying the foundation for the advent of numerous cryptocurrencies. Bitcoin is the first generation of blockchain technology that is based on the proof-of-work (PoW) consensus. By PoW, validators secure every transaction on the blockchain through a complex, energy-consuming mechanism called “mining.” Since its inception, the creators fixed the cryptocurrency’s supply cap at 21 million with less than 1.7 million BTC left to be mined, as of March 2023.

Bitcoin Adoption & Legal Recognition

Notably, Bitcoin became widely popular among traders and investors alike with adoption accelerated since 2020 – BTC as a payment option for every domain from retail to education and real world Bitcoin ATMs being launched across different countries aroundthe globe . Furthermore it has also received legal recognition from some global nations such as El Salvador which declared BTC as one of their official tenders . Several other countries are in process of adopting crypto regulations framework .

Current Market Status

Currently , Bitcoin’s current price stands at $26784 . 98 with 24 – hour trading volume reaching $14 , 928 , 856 , 365 while having a 24 – hour Price Change rate of 1 . 51 % up . The circulating supply stands at 19 , 407 , 256 whereas All – Time High was recorded at $68789 . 63 on November 10th 2021 respectively .

Bitcoin Price Prediction 2023

The overview of Bullish and Bearish predictions for 2023 can be seen below :

Bullish Prediction: $30655 . 20 – $21973 . 54
Bearish Prediction: $21973 . 54

The technical analysis indicator used to predict future movements can be seen in chart :

Conclusion

In conclusion , we have analyzed bitcoin’s current market status and given a bullish/ bearish prediction for 2023 . We have also discussed bitcoin’s adoption rate worldwide alongwith its legal recognition in certain countries and further developments surrounding it in our article above