Bitcoin, which has made a good entrance to 2023, has experienced an increase of more than 80% to date.
While BTC is still trading 55% below its all-time high of $69,000 on November 10, 2021, it has managed to surpass the critical level of $30,000 this week.
While BTC continues this uptrend, investors still remain in a dilemma. Because investors will continue to rise? Or is there an important fix from here? looking for answers to his questions.
In this context, the analyst named Credible Crypto, who evaluated the performance of Bitcoin, claimed that BTC could see its all-time high in 2023.
Explaining his BTC prediction in a recent Youtube video, the analyst said that the current ongoing Bitcoin rally will end between $30,000 and $40,000.
Stating that there will be a consolidation period afterward, the analyst stated that BTC will experience an accumulation that will trigger the new ATH in the next 6 months.
“I think Bitcoin will reach the new ATH later this year.
Bitcoin's current rally will end between $30,000 and $40,000. Although BTC enters a period of consolidation after this rally, in the next six months, BTC will experience an accumulation that will trigger the new ATH."
Stating that there were large liquidations and panic sales in BTC due to black swan events such as the Terra (LUNA), 3AC and FTX crashes in 2022, the analyst said that BTC's rise above $ 30,000 is an indication that traders are accumulating Bitcoin again.
The analyst added that this will eventually take BTC to $70,000.
*Not investment advice.