Can Avalanche Price hit $100 in 2023?

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?