Bitcoin & Cryptos: 2022/2023 Outlook. Predictions.
Following Canada's latest threats to confiscate Bitcoin and other cryptos from anyone who disagrees with them, the crypto market took yet another dive leaving investors to wonder "What in the world is going on with crypto?" Here's what I think...
There couldn't be a better time to enter the crypto currency market. Whether you're interested in playing it safe with the "big boys" of crypto like Bitcoin or Ethereum, or if you're looking for something a little more risky like any of the "alt coins" including Avalanche, Fantom, Terra, and so on, this is definitely the year to dollar cost average your way through the market.
The crypto market is extremely volatile, but over time, the general trend is up, and that will be true for 2022, but most especially, 2023/2024! The key is to not FOMO ("fear or missing out") during times that prices are high and "gorilla" your way in, but rather, make smaller purchases when the market dips. The reason for this is that 2022 will continue to be volatile, without any major break-outs in price of the majority of established coins.
Please also avoid "the metaverse" investments in 2022. That market is not quite ready yet (and honestly, I hope it never is, because it's a big "trap" for humanity), but DEFI ("decentralized finance") is a great place to be...for now.
However, if you can be disciplined and consistent, investors will reap MAJOR rewards in early 2023 and beyond. That is when I expect a big break-out after a relatively 'sleepy' 2022. Nonetheless, 2022 does have opportunities for growth, especially around July and then again in September...maybe October. But, don't be surprised when the market dips towards the end of the year as investors realize gains/losses for tax purposes.
The year 2023 will be much different! By the end of the 1st quarter of 2023, I would expect to see Bitcoin easily break $90,000 with a price of upwards to $170,000 by the end of Summer, and a whopping $320k by the end of the year or the early part of 2024. This is not to say that there won't be major dumps in between, so be aware, and don't panic sell, and more certainly do not FOMO in during a major break-out!