Crypto news: Bitcoin, Ethereum, Solana

Crypto news: Bitcoin, Ethereum, Solana

In this article we delve into the year-end price forecasts for Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other crypto, as provided by Bitget, the leading crypto exchange and analysis platform. 

We will also analyze the market’s performance in 2022 and its start in 2023, as well as provide insights into what to expect for the second half of 2023 and how to prepare for 2024. 

In addition, we will analyze potential market conditions for the next five years and expectations for the price of Bitcoin during this period.

Year-end expectations for Bitcoin, Ethereum, Solana and other crypto assets in 2023


Bitget‘s analysis suggests that the price expectations for BTC at the end of 2023 are influenced by several factors. 

The possibility of the Federal Reserve raising interest rates, coupled with the potential approval of a spot ETF on BTC and the halving event, will likely affect the price trajectory of BTC. 

Initially, BTC may decline somewhat, but demand from buyers is expected to increase after the rate hike. The price is expected to adjust from $31,800 to $28,000, and then potentially exceed $40,000 by the end of the year.


ETH has shown weaker performance than BTC due to continued market speculation and lack of incremental funds. 

ETH’s increasing token rate and its annualized destruction rate have hindered its price growth. 

However, if there is an influx of incremental funds, the staking yield for users will increase, leading to lower market circulation rates. Bitget estimates that ETH will stabilize around $2,200 by the end of 2023, hovering between $2,200 and $3,200, with the potential to reach new highs in 2024.


As mainstream currencies stabilize, altcoins should catch up in terms of price increases. 

Altcoins driven by market themes and events, such as memecoins, algorithmic stablecoins, and new DeFi models, could become attractive options for investors seeking alpha returns. A wealth effect trend is expected, with several altcoins experiencing price hikes by the end of 2023.

Market assessment in 2022, early 2023, and future forecasts 

In 2022, the cryptocurrency market faced significant challenges due to the tightening of the US Federal Reserve’s balance sheet and rapid interest rate increases. 

Liquidity problems and collapses of high-profile VCs, including Three Arrows and FTX, caused a prolonged downturn. However, amid these challenges, new opportunities for rapid growth have emerged for some companies.

The beginning of 2023 saw a glimmer of hope in the market with the launch of an airdrop of the BONK memecoin on the Solana network. The launch of Arbitrum’s native token also sparked a frenzy in the ecosystem. 

The continued decline in the US CPI has led to a resurgence of BTC, and the failures of traditional banks have rekindled the vision of BTC as a decentralized payment system.

The Federal Reserve is expected to reach peak interest rates in the second half of 2023, potentially impacting BTC and ETH prices. 

The approval of spot BTC ETFs and the resolution of lawsuits involving companies such as the SEC, XRP, Binance, and Coinbase will be key. Transparent cryptocurrency laws are critical for regulators and companies in the industry.

By 2024, the impact of the Federal Reserve‘s quantitative easing on capital market liquidity will be significant. The approval of spot ETFs on BTC could radically change the perception of BTC and potentially lead to an all-time high in its price. 

We recommend strategic approaches based on events, high-quality projects, and positive triggers to seize historical opportunities.

Outlook for the next five years and expectations for Bitcoin

Looking at the next five years, the cryptocurrency market is expected to become mainstream. The Federal Reserve’s near-ending interest rate cycle and clearer market regulations will attract more investment. 

The development of the Ethereum L2 ecosystem and new public blockchains will facilitate the adoption of cryptocurrencies in traditional sectors.

As for Bitcoin, Bitget predicts that it will not only surpass its previous high of $69,000, but could reach the impressive $200,000 mark in the next five years.

Nansen and TokenInsight examined and analyzed the development patterns of centralized exchanges (CEX) in the first half of 2023 and the second quarter, respectively. Bitget has experienced remarkable growth in derivatives trading during this period, and the token on its BGB platform has performed exceptionally well.

Looking ahead to 2024, security, compliance, and innovation will be critical to the success of CEXs. Timely identification of high-quality assets and effective risk management will determine their overall performance during the next growth cycle.

Conclusions on Bitcoin, Ethereum, Solana and other crypto assets

Bitget’s in-depth analysis provides valuable information on year-end expectations for BTC, ETH, and Altcoin, as well as a comprehensive analysis of the market in 2022 and its start in 2023. 

The second half of 2023 and preparations for 2024 are crucial for potential market developments. Significant growth in the cryptocurrency market is expected over the next five years, with Bitcoin expected to reach new highs. 

The assessment of the first six months of 2023 and the forecast for 2024 provide valuable insights for investors and stakeholders to make informed decisions in the dynamic cryptocurrency landscape.

Recommended For You

About the Author: Daniel