Bitcoin Price Prediction – Will BTC Recover in 2023?
Bitcoin price prediction appears to have turned bearish following the breakout of the $16,660 level on January 3. Candles closing below $16,660 have the potential to drive a bearish trend in BTC.
One of the longest-contributing members of the Bitcoin Core team, Luke Dashrj, claimed to have lost more than 200 BTC (about $3.34 million) this past weekend after having his wallet keys stolen. The developer tweeted about the incident on Monday, January 1st, adding;
“My PGP key is compromised, and at least many of my bitcoins stolen. I have no idea how. Help, please.”
PGP, short for "Pretty Good Privacy," is a popular and secure encryption tool. To prevent unauthorized access to sensitive information stored on a server, it can encrypt such information. Before he lost his keys, Dashrj had reportedly used PGP to check if the malware had been introduced into Bitcoin Knots and Bitcoin Core downloads.
Bitcoin Core is the most widely used software for connecting to and running a node on the Bitcoin network. Bitcoin Knots, on the other hand, has more advanced features than Bitcoin Core but is less well-tested, leaving it more open to attacks.
The developer did eventually trace the stolen Bitcoins to an address, but he had not received any assistance as of this writing. In the past, he had complained that the FBI and local authorities had ignored his requests for assistance. Some hours later, he penned, "Never mind. Simply put, it's all but vanished.
In July of 2022, Bitcoin's market share was 40.16%, the last time it was more than 40%. Since October 2020, BTC has dominated the market, as shown by the orange line in the preceding chart.
As early as the year 2021, BTC had already reached a domination of as much as 70%. In January of 2022,
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