It looks like the price of Bitcoin is poised for a massive surge this year. Check out the latest optimistic predictions below.
Bitcoin price could explode in 2023
As of writing this article, Bitcoin (BTC) is currently trading positively and is valued at $26,710. An influential crypto analyst has expressed optimism that BTC could reach new all-time highs this year. The pseudonymous analyst, Credible Crypto, has cited historical precedent as a reason for predicting that Bitcoin may achieve a fresh all-time high.
Credible Crypto suggests that Bitcoin has the potential to repeat past impulse waves, including the one observed in 2020. During that time, BTC faced significant challenges in surpassing a critical resistance level before ultimately reaching new record highs.
“Keep hearing, ‘How can we reach (a) new all-time high before the end of the year? It’s impossible.’
About where I think we are now compared to our last impulse [of 2020]. Note that the support/resistance flip and retest at $10,000 took about three months to complete.
Two months later, we had rallied 90% to new all-time highs.”
He continued and said the following:
“Four months after that we hit our top for the impulse – just a total of six months after completing the support/resistance flip and retest at $10,000 and over 500% higher…
Don’t tell me it can’t be done when it’s literally been done before.
I’ll see you all at new all-time highs, likely sometime this year.”
Bitcoin reveals strong fundamentals
There are ongoing optimistic predictions about the price of Bitcoin, the most important digital asset.
Financial entities have expressed positive thoughts about Bitcoin despite efforts to weaken the US dollar. With the financial crisis, people are increasingly turning to crypto as a potential solution.
A popular crypto analyst thinks Bitcoin’s (BTC) price has not caught up with its “out-of-control” fundamentals yet.