Predictions for Crypto in 2023: Twitter Coin; Bitcoin Rises; Meme-Coin Mania
It’s getting awfully cold during crypto winter. Let’s try to warm up by making some crypto predictions 2023.
Bitcoin to reach $250,000 in 2023
This prediction is from billionaire venture capitalist, Tim Draper.
In an interview with CoinTelegraph on Nov. 15, Draper declared that Bitcoin will hit $250,000 in early 2023.
That would be a massive rise from Bitcoin’s current price of roughly $17,000.
His prediction seems a bit far fetched. Especially when you consider the recent collapse of FTX.
Verdict: Absolutely bogus.
Bitcoin falls as low as $10,000
Okay, this prediction seems a lot more reasonable.
A Sussex University professor, Carol Alexander, sees Bitcoin continuing to fall and hitting a low of around $10,000.
JPMorgan analyst’s are forecasting similar trends. As of Nov. 13, 2022, they predict bitcoin will bottom around $13,000.
In a note last week, JPMorgan cited FTX’s recent collapse as a reason for Bitcoin to fall further.
You may be having flashbacks toward Nov. 3, 2021, when the same analyst’s at JPMorgan predicted that Bitcoin would rise to $146,000.
As you can see here, they are bulls in bull markets and bears in bear markets.
However, we shouldn’t be surprised since they are a big bank after all.
Meme-Coin Mania returns
While it seems unlikely that Bitcoin will reach new highs in 2023, a more plausible scenario for crypto is the return of meme coins.
Do you remember in 2022 when the stock market was in utter disarray for the year?
Me too. Well, there were still plenty of times that meme stocks like GameStop, AMC, Chicken Soup For The Soul Entertainment, Bed Bath and Beyond, etc. had moments of capitulation.
I could see the same thing happen to crypto in 2023. While Bitcoin will likely slowly climb back up around $30,000, I could see SHIB, APE, CAKE, etc. going parabolic in 2023.
I’m not saying that I’m going to dump my life savings or depleted stock portfolio into them. But I could see a few weeks of pandemonium where those coins are pumped for seemingly no reason.
Twitter Implements Doge as Payment System
Perhaps the most realistic scenario is for Elon Musk to implement a crypto payment system on Twitter.
Imagine if the platform started accepting Doge and paying creators in Doge.
Can you say massive bull run? I’m sure this is one of the featured Musk is looking at.
However, 2023 may be too early to roll this feature out. Take Twitter Blue for example.
It was a rushed feature that had to be shut off and then relaunched because it was put together too quickly.
Or, what’s to stop Musk from making his own Twitter Coin?
It would be very Elon to somehow tie crypto into Twitter.
And if he implemented it successfully, it could even start a “roaring 20’s” like bull run for crypto in general.
Final Say
It has been a rough year for computer coins. So many retail traders got wiped out in 2022 and have had to return to their 9-5 jobs.
As a result, crypto, stocks and personal finance in general have taken a back seat.
2023 will present a fresh opportunity for investors to come back to crypto.
Web3 will be the talk of the office again as prices slowly start to rise.
Investors and traders should feel optimistic heading into 2023, but ultimately should play it safe with their savings.
If we learned anything from 2022, it’s that the establishment is starting to fade.
Perhaps quicker than some thought. That should bode well for crypto in general. But, it will still take time for DeFi to take steps further.
Final Crypto Predictions 2023
it has a better year than 2022, but aside from some meme coins and rumors about Musk implementing Doge on Twitter, investors can safely keep waiting.
