Just when it looked like Bitcoin was on its way to the moon, things quickly changed, and the recovery mode quickly turned into a downtrend. The world’s highest-ranked cryptocurrency had a similar situation in 2015-2017, followed by some explosive growth and truly impressive gains.
However, the situation has decreased the token’s value by over 9% in the past month. The trend shows no signs of stopping, so many holders are selling their tokens, moving on to better alternatives such as Bitcoin BSC. So, let’s see what Bitcoin prices will look like at the end of the year and why the new Bitcoin could steal the show.
Bitcoin Entering a Bearish Market
Bitcoin overcame some incredible difficulties in the past despite many experts claiming that it has no chance of resulting in significant gains. While sometimes it took two years for the crypto to break resistance level and take off, BTC was and still is the highest-ranked cryptocurrency with a total market cap of over half a trillion dollars.
2023 was an excellent year for Bitcoin until recently. The crypto doubled in value since the beginning of the year, reaching a price of over $30k at one point. The bullish phase helped attract millions of investors to crypto markets, which pushed it into recovery mode after the worst year on record. However, 2023 turned out to be exceptionally financially challenging due to rising inflation, constant rate hikes, and many other problems.
Bitcoin’s growth stopped in late July, and the crypto remained stable for another two months. Then, in mid-August, BTC prices dropped from the $30k level down to around $25,800, pushing even more investors away from the platform to emerging projects. There were some great opportunities throughout the year, but right now, Bitcoin BSC is by far the best investment option for a multitude of reasons, but we’ll get to that in just a second.
The current sentiment around Bitcoin is becoming increasingly bearish, as BTC became susceptible to wilder price swings as trading volumes declined, resulting in a greater impact on value. Moreover, Elon Musk has recently sold a significant part of his SpaceX Bitcoin holdings, and the growing issues with China’s property market is also having a negative impact on price stability.
Why is Bitcoin BSC a Better Investment Option Right Now?
Bitcoin BSC is a new BEP-20 version of Bitcoin built on the BNB Smart Chain. It’s much more sustainable than the original token because it uses 99.9% less energy due to the Proof-of-Stake (PoS) mechanism. The original Bitcoin uses Proof-of-Work, allowing users to “mine” tokens at huge costs and with even bigger ecological impact.
Instead of mining tokens, Bitcoin BSC token holders can stake their $BTCBSC coins to earn a passive income. But what separates Bitcoin BSC from many other staking platforms?
First, Bitcoin BSC is built on the BNB Smart Chain, which shares the same code as Ethereum. That effectively means it is built on a secure platform with excellent smart contact features and capabilities.
Second, BNB Smart Chain is known for having low gas fees and is faster than Ethereum, allowing users to make more transactions quicker. If that’s not enough to excite you, you should also know that all BEP-20 tokens work with standard Trust and MetaMask crypto wallets, so you can quickly store and transfer your $BTCBSC tokens with just a few clicks.
Bitcoin BSC Tokenomics and Features
The official Bitcoin BSC presale will have only two phases. The first phase has a soft cap of $4 million, during which the $BTCBSC tokens will be available for $0.99, just like the original Bitcoin was in 2011. Another 2.1 million tokens will be available in the second stage, and anything left over will go to community rewards given out through staking.
After reaching the hard cap, the remaining 14.875 million tokens will be reserved for staking contacts and distributed throughout the following 120 years. The platform will have 21 million tokens, with over 70% locked for staking. The only way Bitcoin BSC can go from here is to the moon, but let’s go back to BTC to see what the 2023 price predictions say.
Bitcoin Price Prediction 2023
As stated above, Bitcoin had a great run until mid-July, when problems began. The many events that have happened since have put pressure on the coin’s price, increasing risk and fear. The inflation forced many investors to exchange their tokens for treasury bills. The fear index keeps growing from month to month, making the idea of Bitcoin breaking the $30,000 resistance level before the end of 2023 all but impossible.
When all things are considered, Bitcoin could end up in a bearish market in the next few months, probably until early 2024. According to numerous realistic price prediction experts, Bitcoin will close the year between $21,500 and $25,175. The average price is around $23,000, so BTC will likely keep losing value. The situation is caused by many outside factors that are unlikely to change for the better in such a short time.
Wrapping Up
Bitcoin is sadly in a downward spiral that could bottom out close to last year’s minimum. Its future price is determined by many factors that are currently preventing growth and promoting fear. The situation will remain as such until early 2024 or even longer, so you should consider investing in Bitcoin BSC, as it is a much more sustainable platform than Bitcoin with high yearly returns. So, visit the official Bitcoin BSC site today and get your $BTCBSC tokens for 99 cents a piece to enjoy the highest returns in the future.
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