Cryptocurrency analyst Ben Armstrong shares his predictions about the route of the leading cryptocurrency Bitcoin (BTC) this year. The analyst talks about ‘a few nice rallies’ he is waiting for this year for Bitcoin.
“$25,000-30,000 is possible for Bitcoin in the coming weeks!”
Cryptocurrency analyst Ben Armstrong, known as BitBoy, says he likes to observe the bullish trend in the crypto community once again, as Bitcoin first rose above the $18,000 level again and then touched $19,000 on January 12.
However, Armstrong does not expect Bitcoin to hit all-time highs this year. However, he expects a few nice rallies from Bitcoin instead. Furthermore, the analyst suggests that Bitcoin is at the beginning of an uptrend that could reach $25,000 or even $30,000 in the next 10 to 15 weeks. cryptocoin.comInvestors’ risk appetite has increased with expectations that the Federal Reserve will soften. Thus, it triggered a rise in risky assets. Hence, the crypto market, including the leading crypto Bitcoin, has witnessed strong increases. BitBoy shared the following regarding his predictions from his Twitter account:
It’s good to see people bull again. All-time highs aren’t coming anytime soon. But Bitcoin is going to make some nice rallies this year. And in the next 10-15 weeks, I believe we are seeing the start of a rise from maybe $25,000 to $30,000.
By the way, we should point out that Armstrong took a slightly different view in late December. The analyst shared his expectations that Bitcoin will start to rebound towards $30,000 by the end of 2023. Armstrong expects new historic peaks to occur by the end of 2024, according to his post. He also thinks Bitcoin could go too high, marking the ‘knee-jerk reaction’ at $120,000.
Whales’ big transactions in Bitcoin continue
According to a recent post by on-chain analytics platform Santiment, whales have become more active again. This shows their interest in the leading cryptocurrency. Bitcoin crossed the $19,000 level for the first time since the beginning of November (after the collapse of FTX). Since it managed to recover this level, the transaction level of $ 1 million and above in Bitcoin rose to the level last seen in November. At press time, Bitcoin was trading at $19,238, up 5.80% on a daily basis, according to data from CoinMarketCap. At the same time, the leading crypto rose 14.40% on a weekly basis. However, it is 72% below its all-time high of around $69k, which it saw in November 2021.
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