The year 2022 has been challenging for crypto assets; we’ll give you a roundup of the expected prices of cryptocurrencies for 2023. As some major companies filed for bankruptcy this year, the crypto sector was put into distress. As a result, some assets went through a major recovery to the green side.
Bitcoins market cap dropped by 66.8%. However, other altcoins were more severely affected by the bear market this year. Ethereum’s market price, for example, decreased by 70%. In this market, ETH’s rivals have also suffered. The price of Cardano (ADA), which was still among the top 10, fell by 82%. We hope these losses will be left behind once the new year comes around. Let’s dive deep into the expected price of these specific assets for 2023.
The famous analyst Michael van de Poppe expected a positive prices for one of the most popular crypto assets in 2023. The analyst expects that it can soar and double its market capitalization. However, to do so, Bitcoin would need to exceed $20,600. BTC currently has a resistance level of $18,600 and is struggling to stay above $16,000. Once this target is reached, the asset could trade at $38,500.
“Guy,” the Coin Bureau analyst, has high standards for the second most popular cryptocurrency. The year 2023 is expected to bring the Shanghai upgrade to life. In essence, this will enable Ethereum holders to withdraw their Ethereum from the staking contract and spend it however they see fit. Guy believes that with the unlocking notion will come the motivation for others to stake Ethereum. Going deeper and putting a price prediction on this asset, Guy didn’t see fit.
He did mention that the asset will experience flipping and reach a five-digit sum; however, he expects Ethereum to trade sideways next year.
The last prediction we will be discussing for 2023 is the asset, Cardano. The Ethereum competitor somehow has remained in the top 10 list throughout this year. The chances of Cardano flourishing in the stablecoin, non-fungible token, and decentralized finance (DeFi) sectors are very high. Crypto enthusiasts believe this will appear in the capitalization platform for smart contracts.
The crypto exchange Changelly has come up with a Cardano crypto prediction that goes as follows. Considering how ADA has performed recently, 2023 might be a year of growth for individuals who purchased Cardano during the down market. This is, of course, if history is any indication of the future.
The analysis of Changelly’s has given a target of $0.45 for this Ethereum killer. Bulls may be able to increase Cardano’s capitalization until it hits what should be its peak price, $0,55.