The year 2022 has come to an end and experts are discussing their cryptocurrency market predictions for the new year.
Michael van de Poppe, a well-known expert, predicts that the market will move sideways and reach a temporary bottom in Q1 2023. He also predicts that Q2 2023 will bring a relief rally on Bitcoin, with the price reaching between $30,000 and $35,000, coinciding with a halt in interest rate increases and a decline in inflation.
Van de Poppe predicts that a recession and crisis will begin in Q3 and Q4 2023, followed by another dip in the indices.
He also forecasts a massive bull cycle in 2024 and 2025, with the price of Bitcoin potentially reaching $250,000 or $300,000 by the end of those years.
Altcoins To Watch In The New Year
As 2023 starts, van de Poppe also recommended some alternative cryptocurrencies (altcoins) to keep an eye on. The first asset on his list is chainlink (LINK). The expert forecast a $4–$5 bottom for the token and a subsequent relief rally after the Federal Reserve eased up on its monetary policies.
Polkadot (DOT) is up next. According to Van de Poppe, the token has been stretched unreasonably as a result of the current crypto price movement. Additionally, Cosmos’s (ATOM) price may follow the same consolidation and subsequent surge seen in trade in 2019 and 2020.
He talks about Binance Coin (BNB) next and says that the token should be included in every portfolio since it is offered by the biggest cryptocurrency exchange, Binance. The expert feels that BNB will profit if the cryptocurrency industry as whole recovers.
However, he stressed that BNB’s future depends heavily on the performance of Bitcoin (BTC). The trade expert concluded by noting that the multichain, interoperable network Skale (SKL) has the potential to appreciate, citing the platform’s solid base.