Serhiy Tron: Bitcoin May Grow up to $30 Thousand in the First Half of 2023

KYIV, Ukraine, March 2, 2023 /PRNewswire/ -- Bitcoin has a chance to reach $30 thousand in the first half of 2023, and then start moving up to $40 thousand. The main reasons for its growth are the shortage of investment assets, investment activity in the Asian region, military and political instability in the world caused by the war in Ukraine.

The cryptoinvestor and founder of White Rock Management Serhiy Tron wrote about that in his column on the Ukrainian Information Agency Ukrainian News.

"Bitcoin has every chance to reach the level of $30 thousand in the first half of 2023, and then continue rising to $35-40 thousand.  The progress of cryptocurrencies is unstoppable, and there are at least three factors that will stimulate interest in Bitcoin. Firstly, in recent years there is a deficit of investment assets in the world. We do not see a pull of new promising projects that could interest investors, which is why they pay attention to the cryptocurrency market more often than usual" says the founder of White Rock Management.

The crypto investor mentions that the Asian region is experiencing an increase in investment activity.

"Secondly, there is an increase in investment activity in the crypto market in the Asian region, where I see a great prospect and investment volumes. Local regulators stimulate it. For example, in the fall of 2022, the authorities of Hong Kong, claiming the status of an Asian crypto hub, promised from June 1, 2023 to legalize retail operations with crypto and other digital assets, as well as exchange-traded investment funds working with these assets" explains the author of the blog.

According to the investor, another factor affecting the possible growth of the bitcoin exchange rate is the military actions in Ukraine.

"Thirdly, the war in Ukraine has predictably increased the overall military and political instability of the planet. At the same time, it stimulated the flow of part of the capital to the crypto market to increase the secrecy of investments and settlements. Hence, demand for Bitcoin is growing regularly and supports its quotes. The bitcoin exchange rate has been steadily rising since December 2022. In the first two weeks of 2023, it quickly looming around $24 thousand, at times reaching $25 thousand with a further positive upward trend," sums up Serhiy Tron.