Bitcoin Predictions For 2023 By Arcane Research

Historically, 2022 could end up being the second-worst year for Bitcoin since 2011. At the current price, BTC has a year-to-date (YTD) performance of -65%, topped only by 2018 when the price lost -73% in one year. As Arcane Research notes in its year-end report for 2022, physical gold (-1% YTD) has significantly outperformed digital gold, Bitcoin, in a period of high inflation. As a result, the analytics firm notes that the digital gold narrative was premature. As Arcane Research notes, the crypto winter was essentially fueled by tightening macroeconomic conditions and crypto-specific leverage and miserable risk management by core