The IMF has forecast a sluggish global economy, while the US Federal Reserve has predicted a recession. With a 65% price increase since the year’s beginning, Bitcoin has had a promising year thus far. With a 53% increase, Ethereum has also had a successful year. Is it a good idea to purchase Bitcoin and Ethereum now that there are clouds in the sky? By the end of 2023, Bitcoin is anticipated to be worth $40,000, while Ethereum is anticipated to fluctuate between the support and resistance levels of $19,592-$48,700.
Various market analysts have predicted different prices for Ethereum in 2023, with Raoul Pal predicting it may reach $20,000. According to Twitter analyst Wolf, it may reach $3,500 by the end of the summer of 2023. The total value locked (TVL) of Ethereum, the top platform for creating smart contracts and DeFi applications, recently reached record highs of almost $10 billion.
