What will be the price of bitcoin in January

In the coming days, the BTC (Bitcoin) rate will return to $16,000-17,000, Anton Bykov, a senior analyst at Esperio, believes. He told cryptonewsherald about this on January 13.

On the night of January 12-13, the bitcoin exchange rate exceeded $19,000. On Friday, according to published data on site Coindesk, at 16:08 Moscow time, BTC dropped to $18.8.

“Rate fluctuations of 10-15% in both directions are quite typical for the cryptocurrency market, so you should not experience any strong emotions watching the recent dynamics of bitcoin. Due to a large-scale correction, the market has become “thin” – large players have cooled off to speculation and the volume of liquidity (the volume of buy and sell transactions) has decreased, as a result of which the likelihood of sharp moves up or down after the execution of a large transaction has increased significantly,” he said.

According to him, market participants are tired of the protracted correction and are ready to participate in any “serious movement, but this does not mean at all that it will be of a long-term nature.”

Bykov clarified that the high rates of the US Federal Reserve System (FRS), which significantly increase the cost of funding speculative operations and increase the yield of low-risk bonds, deprive players of the incentive to work with assets like cryptocurrencies and stocks.

“Judging by recent statements, there are no plans to change the Fed’s policy in 2023, which means that any price fluctuations should be taken as short-term speculative activity. We expect that in the coming days the BTC rate will return to $16-17 thousand,” he concluded.

Earlier, on December 29, it was reported that Anatoly Aksakov, chairman of the committee on the financial market of the lower house of parliament, allowed the appearance of the Russian crypto exchange in the second quarter of 2023. He believes that the turnover of cryptocurrencies when conducting cross-border transactions with such assets by businesses should go through the Russian infrastructure.

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