At the end of 2021, Avalanche (AVAX) witnessed huge hype and rose to the top ten cryptocurrencies in terms of market capitalization. The network managed to draw a lot of attention in Solana’s flow stream and was enthralled with its scalability. However, in recent months, there has been a price reduction. Now the price is skyrocketing once more. What is the AVAX price prediction in the first quarter of 2023? Can Avalanche price hit $100 in 2023? Let’s take a look at it in more detail.
How has the Avalanche (AVAX) price moved over the past few months?
The Avalanche (AVAX) has fallen dramatically in recent months. The decrease started in late November 2021. However, the price held up well in the first few months of 2022. The big crash started in April when the price of AVAX dropped from $98 to below $15.
Following a stronger increase in August, the token then witnessed losses. With the FTX crash, the price dropped below $15 once more. The price kept falling in the final weeks of 2022, and it was recently below $11. The Avalanche price could only increase significantly again in the early days of 2023.
Why was the price able to rise even further?
It’s official! @Amazon #ChoseAvalanche to bring scalable blockchain solutions to enterprises and governments 🔺#AWS fully supports Avalanche’s infrastructure and dApp ecosystem, including one-click node deployment, offering the best tooling for these high compliance use cases. pic.twitter.com/syInSrU9XD
— Avalanche 🔺 (@avalancheavax) January 11, 2023
The price of Avalanche (AVAX) has risen in recent days, boosting the prediction for the start of 2023. The price has increased by more than 36% in the last seven days.
The increase is primarily due to the Bitcoin price breaking above its resistance level of $17,000. This increase ensures that the prices of altcoins shoot through the roof. Along with many other coins, the AVAX token in particular was able to rebound.
One factor that may have caused Avalanche’s price to rise even more than other prices was its collaboration with Amazon Web Service (AWS). Avalanche will be able to implement new infrastructure functions in the network and gain important new partners as a result of this collaboration.
What is the prediction for Avalanche (AVAX) in the first quarter of 2023?
Avalanche (AVAX) guidance for the first quarter of 2023 could be favorable. It’s not just because the price of AVAX has risen by more than 36% in the last seven days. The overall market is once again moving in a bullish direction, which is benefiting altcoin prices in particular.
Furthermore, interest in Avalanche may rise once more. The cryptocurrency has suffered significant losses in recent months and, unlike many other altcoins, has not seen any significant short-term gains. The token is now back in the minds of many investors and may continue to be purchased.
AVAX price prediction: How high can the Avalanche (AVAX) price go?
AVAX price prediction: AVAX/USD Weekly chart showing the price – GoCharting
The price of Avalanche (AVAX) has recently skyrocketed. It will now be interesting to see whether this increase is sustainable or if it is solely due to the collaboration with Amazon. Much will also be determined by whether or not the Bitcoin price can continue to rise in the coming weeks.
The price of AVAX may continue to rise in the coming days. However, after a certain period, recovery should occur. It will be interesting to see if the price can establish support or if it corrects sharply, as many altcoins do. In February and March, we anticipate sideways movement and short, slight increases. We are assuming Avalanche (AVAX) price could be between $18-$25 for the end of Q1 2023.
Can AVAX price hit $100 in 2023?
The year 2023 began with a very optimistic outlook for both the overall crypto market and the AVAX price. Overall, 2023 has the potential to be a very good year for cryptocurrencies. The first half of 2019, the second year of the bear market at the time, saw massive price increases.
These increases could occur again in 2023. As a result, the AVAX price may rise dramatically again in the coming months. With the price having dropped sharply earlier, we could see AVAX consolidate heavily in the coming months. The price could rise even faster than many other altcoins, as we have seen in the last two weeks. It is unlikely, but not impossible, that the AVAX price will rise to $100 in 2023.
Is an investment in the AVAX token worthwhile?
Avalanche is undoubtedly a network that benefits many businesses and developers. However, competition in the form of Solana, Cardano, and Polygon is fierce in the field of highly scalable networks. If you believe in Avalanche’s success and invest, you could profit handsomely in the coming weeks, as per our prediction.
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Source: https://cryptoticker.io/en/can-avalanche-price-hit-100-in-2023/