When you look back at 2022, it was a tough year cryptocurrency. About $1.3 trillion was wiped off the value of the market. The world’s most popular digital coin, Bitcoin, has seen a more than 60% price slump. Whenever a person thinks of investing in the crypto market, the first thing that comes to mind is Bitcoin because of its reputation, and people believe that they can earn significant returns.

However, things could have gone better for Bitcoin in 2022. The recent implosion of FTX, an exchange that once wielded influence on the crypto industry, had an effect, and you may have heard about the crypto lender Voyager and TerraUSD collapse, which has become bankrupt.

Then, add in price losses in the stock market, hikes in the interest rate, and high inflation, all of this coming after Bitcoin and other cryptocurrencies have exploded in popularity.

But what will be the Bitcoin price in 2023? Will it keep dropping?

Let us find out below.

What affects Bitcoin price?

Bitcoin mining

Bitcoin protocols also allow for the creation of new Bitcoins. The miners process the blocks of the transaction, and when a new Bitcoin is added to the market, that will affect the…