Hedera HBAR, the native cryptocurrency of the Hedera hashgraph platform, has seen its price decline 1.56% over the past 7 days to $0.04932 as of September 8, 2023. With a market capitalization of $1.66 billion, HBAR currently ranks #36 among cryptocurrencies. Let's dive into the key metrics and trends behind HBAR's latest price movements.

The 24-hour trading volume for HBAR stands at $30.64 million, indicating decent liquidity and interest in the token. However, in the past hour, HBAR has slipped 0.36% against the US dollar, hinting at short-term bearish momentum. Zooming out, HBAR gained 0.92% over the last 24 hours, but its inability to hold the slight gains shows sellers are applying downside pressure.

Analyzing HBAR's price chart, its 7-day loss of 1.56% has taken it below the 20-day moving average after failing to break above resistance around $0.05. The technicals reflect a consolidation period for HBAR, stuck between support at $0.048 and overhead resistance. Its relative strength index of 46 shows equally weak buying and selling activity.

Fundamentally, Hedera Hashgraph continues to expand its ecosystem and client base. Recent announcements include a partnership with Ledger to add HBAR support for Ledger's hardware wallets. Additionally, AdsDax announced it will build its decentralized advertising platform on Hedera to leverage its speed, security, and low costs.

However, the crypto market-wide weakness in 2023 so far has offset the positive developments. Bitcoin is down 19.51% year-to-date, dragging down altcoins like HBAR which has shed 18.68% of its value over the past 6 months. Until bitcoin mounts a sustained recovery, it may be difficult for HBAR to reverse its long-term downtrend.

What Lies Ahead for HBAR in 2023 and 2024?

Looking ahead, HBAR's price will depend largely on bitcoin's fortunes. If we finally get a long-awaited bitcoin bull market, HBAR could stage a breakout and retest its all-time high around $0.57. It's plausible that the ongoing development on Hedera Hashgraph will attract greater adoption and use of HBAR in 2023.

However, if the crypto bear market persists due to macroeconomic headwinds, HBAR may continue to trade sideways for the next 6-12 months. Its previous bear market low around $0.027 could be revisited if bitcoin breaks below $20,000.

Overall, Hedera Hashgraph offers differentiated technology that could see increasing real-world usage. But HBAR's price remains correlated to bitcoin and the broader crypto market sentiment. Once the tide turns bullish again, HBAR's upside potential is substantial given its current depressed valuation. A return to its highs would represent a 10x gain from current levels.

Will Altcoins Outperform Bitcoin in 2023?

In recent market cycles, bitcoin has led the way higher but altcoins have massively outperformed during bull runs. However, bitcoin has also led the way lower when crypto markets turn south. The question for 2023 is whether altcoins like HBAR can decouple from bitcoin and chart their own course.

There is a possibility that the most promising and disruptive altcoins will become less correlated with bitcoin over time. As blockchain platforms like Hedera Hashgraph onboard more users and generate real utility, their native assets could trade more on fundamentals than speculation.

However, that decoupling has yet to take place in a meaningful way. HBAR remains tightly correlated to bitcoin's price swings, illustrating altcoins' continued vulnerability to bitcoin's dominance. Unless bitcoin embarks on another bull run, it seems unlikely altcoins will massively outperform in 2023. But they could deliver outsized gains if the crypto bulls return.

Can HBAR Reach $1 in 2025?

HBAR currently trades around $0.05, down significantly from its all-time high. For HBAR to reach $1 by 2025, it would require a 20x price appreciation from current levels. While possible, it would likely require a combination of factors:

Firstly, bitcoin would need to be in a sustained bull market in 2024 and 2025 to stimulate interest and capital inflows back into altcoins. Secondly, Hedera would need large-scale adoption with millions of users and companies leveraging its network. Thirdly, speculation and hype would need to return to the crypto sector, with investors eyeing ambitious long-term price targets again.

Under the most optimal circumstances for both crypto and Hedera Hashgraph, HBAR reaching $1 by 2025 is feasible. However, the project would require flawless execution and likely reliance on positive bitcoin price action. If crypto markets remain challenging in the coming years, HBAR hitting $1 may be a tall order by 2025. But its upside potential makes HBAR a long-term bet worth monitoring.