experiencing a sharp drop of $1,000 bitcoinToday Fed chairman Jerome PowellHe is displaying sideways movements as he awaits his testimony before the US Senate Banking Committee and the US House Financial Services Committee on Wednesday.
5% decrease in the last week BTCAt the time of writing, it is at the level of $ 2,400.
bitcoin As it continues its horizontal movements, investors are wondering which direction the price movements will take.
In this context, popular cryptocurrency analyst Credible Crypto, He said he predicts that the Bitcoin price may see another ATH in 2023.
Sharing on his Twitter account, the analyst stated that he expects a big rally in BTC, but before this rally, Bitcoin will face some final hurdles in the next few weeks.
“Yes, my Bitcoin prediction remains unchanged.
If I’m right that this cycle has begun, it would make much more sense for us to see the new Bitcoin ATH in 2023 than after 2023.
People believe it’s hard to see such aggressive gains, but this is an indication that crypto is literally the norm.
So there have been two aggressive spikes in this cycle already, in this context many see it as impossible to happen again, but it still seems possible.
And once Bitcoin starts running, it will probably run faster than most people expect.”
Noting that 73% of all Bitcoins are in the hands of whales and institutional investors, the analyst said that the market is slowly recovering from the effect of the crypto winter.
According to the analyst, this will happen as institutional investors and whales will buy large amounts of BTC to push the BTC price above the $69,000 ATH. bitcoin The rally will be faster than most people expect.
Founder of BitMEX outside Credible Crypto Arthur Hayes He also argues that the Bitcoin price will experience a major rally in mid-2023, possibly in April-May.
Yup, no change. If I’m right that we are missing a final impulse for this cycle and that it has started- it would actually make a lot more sense for us to see new ATH IN 2023 rather than after 2023. People struggle to see such aggressive rises but it’s literally the norm in… https://t.co/W7oZobqltv pic.twitter.com/YGF3Oy1B2G
— CrediBULL Crypto (@CredibleCrypto) March 6, 2023
*Not investment advice.
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