Consulting Giant: This Is The Cryptocurrency To Buy Right Now!


According to consulting giant The Motley Fool, Bitcoin (BTC) has the best risk-reward profile of any of the major cryptocurrencies. This makes it a great recovery candidate in 2023.
With a drop of more than 65% in 2022, Bitcoin has become an increasingly polarized cryptocurrency. The consulting giant sees Bitcoin as a cryptocurrency that can be bought now. Here are the reasons

The leading cryptocurrency has experienced these drops before

In terms of risk management, one of the most important factors in Bitcoin’s favor is that it has a historical track record of going back from times of price collapse. For example, in 2014, Bitcoin dropped 58% before bouncing back the following year. And in 2018, the same pattern occurred. Bitcoin fell 73% before bouncing back the following year. So while acknowledging that past performance is no guarantee of future performance, there is at least a historical precedent for Bitcoin to recover in 2023. Moreover, Bitcoin has survived at least five different bear market crashes over the past decade.

For example, in 2011, Bitcoin dropped from $32 to $0.01 in a matter of days. We can multiply the examples further. In other words, it is nothing new for Bitcoin to experience a big drop in 2022. This is a big reason why there are so many loyal Bitcoin maximalists willing to buy and hold forever.

Bitcoin halving approaching

Is it a historical coincidence that the three worst years in Bitcoin’s existence (2014, 2018 and 2022) happened almost exactly four years apart? Many market analysts consider Bitcoin to be a pattern in crypto market performance that is inherently tied to the algorithm that controls the circulating supply of Bitcoin. When Satoshi Nakamoto first created Bitcoin, he introduced a mechanism known as halving, which happens on a regular schedule. In a halving event, the reward for mining each new Bitcoin block is exactly halved every four years. Currently, the mining reward for Bitcoin is 6.25 BTC. But in 2024, this reward will be halved to 3,125 BTC.

Theoretically, Bitcoin should become more valuable with each new halving. Investors predict this before the halving and start bidding the price of Bitcoin about 15 months in advance. With the next halving scheduled for early 2024, this means the price valuation process should start happening in 2023. Crypto hedge fund Pantera Capital has extensively modeled this phenomenon. He concluded that Bitcoin will rise to a high of $36,000 throughout 2023 and early 2024, and rise in price to a high of $149,000.

Cryptocurrency adoption is on the rise

Finally, one of the most important reasons I am bullish on Bitcoin in 2023 is due to its growing acceptance as a global medium of exchange. With each passing year, Bitcoin is becoming more popular as an online payment option. And new countries continue to embrace Bitcoin as a way to boost economic growth or improve the economic situation of their citizens. For example, as we reported on, in December Brazil enacted comprehensive regulation on how Bitcoin can be used both as a means of payment and as an investment asset within the country. As more countries follow Brazil’s lead, it will make Bitcoin more valuable than it is. It’s just simple supply and demand.

Bitcoin has a strong catalyst for price appreciation in 2023 and 2024. And the growing global acceptance of Bitcoin as a medium of exchange and a form of payment. Given that Bitcoin has traditionally always led a market higher or lower, if you believe crypto is going higher in 2023, you should consider adding Bitcoin to your portfolio right now.


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