However, given that the unemployment rate has declined, economists anticipate Jerome Powell to take a hawkish stance. Following the FOMC's first meeting of 2023, the Federal Reserve only last week raised the interest rate by 0.25%.In order to reduce inflation, Jerome Powell is anticipated to keep raising interest rates.
To maintain the uptrend, a sharp reversal below the psychological $25,000 level is necessary. If the price of Bitcoin holds steady for a longer period of time, it may rise above $30,000. According a recent publication from coinpedia, A steady rise in volumes could push the bitcoin price prediction for 2023 to $43,959.19.