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Bitcoin will hit a new high in 2023

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Cryptocurrencies are experiencing a constant swing in this 2022, with continuous drops and rises in value. You may have heard that Bitcoin has lost almost half of its value in the first six months of the year, but far from provoking negative thoughts, there are those who are optimistic about the situation of cryptocurrencies, understanding that they are a volatile market, but that they also represent a great opportunity.

This is what the risk investor Tim Draper assures, among others, who assures that Bitcoin will reach a new record in 2023. According to this expert, the most popular cryptocurrency among digital currencies could reach a valuation of $250,000 by the end of 2023.

Bitcoin is currently trading between $26,000 and $30,000 in valuation, having fallen from $47,000 before the end of last year. Despite the drop in valuation, Draper insists: “I’m more convinced than ever that it’s happening and there’s going to be a skyrocketing rise by the end of next year.”

This means that, according to the expert, now would be a great opportunity to invest in Bitcoin, since the investment can be considerably revalued and thus obtain significant income. There is no certainty about it – investing in cryptocurrencies always carries that risk – but if its forecasts occur or even a not so positive scenario, investors could obtain very considerable profits.

Despite the volatile scenario, Bitcoin has not stopped being used and its use continues to expand, with countries like El Salvador accepting it as official currency, or with diversified uses. For example, Bitcoin and other cryptocurrencies are being used more and more as a means of payment to place bets online, due to their versatility and ease of use when looking for online entertainment with the possibility of obtaining a profit in, for example, online casinos.

Tim Draper’s stance is supported by other top names in the cryptocurrency industry. The famous twin brothers Cameron and Tyler Winklevoss, popular at the end of the last decade for denouncing Mark Zuckerberg for taking the idea of ​​Facebook from them, are big investors in Bitcoin.

They recommend keeping a cool head and Sam Bankman-Fried, the richest person in crypto, has given loans to large companies in the sector to save his situation. Changpeng Zhao is also clear on this point: “I am more optimistic in bear markets,” he said in a tweet posted last Thursday.

Be that as it may, despite the fact that Bitcoin has lost part of its value in recent weeks, experts point out that this is nothing more than a common movement in this type of volatile market. In fact, it is not the first time that there has been such a sharp decline in the value of some cryptocurrencies and they have finally recovered.

We will have to keep an eye on the markets to learn about their evolution and to be able to determine if the recovery finally occurs again, and if, therefore, the current moment is a great opportunity, as some claim. Many experts do not doubt this and advise investing at this time. Whatever it is done, it should be remembered that investing always carries risk, and that certain basic knowledge is necessary to analyze market movements and be able to anticipate future trends.

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