Parabolic Bitcoin Surge In 2023 – How High Can BTC Go?

It seems that Bitcoin is kicking off 2023 amazingly, according to the latest prices that we’ve seen in the crypto market. At the moment of writing this article, BTC is trading in the green and the king coin is priced at $20,714.

After Bitcoin managed to surge above $21k, the optimistic prediciotns about the king coin keep pouring like there’s no tomorrow.

It’s been revealed that the quantitative analyst PlanB is doubling down on his prediction that Bitcoin (BTC) could meteorically ascend in the next bull market.

PlanB recently said that he believes Bitcoin bottomed out at $15,500 back in November of 2022, and short-term holders are now in profit territory, a traditionally bullish signal.

Pseudonymous analyst Credible said recently that he believes the floor for Bitcoin this bear market is “officially” in.

“$21,500 has been breached on futures exchanges. Spot exchanges have hit just shy of $21,500 but I’ve seen what I need to. It’s ON. [The] bottom is officially in, in my opinion. Watch $18,000s for a pullback (if we get one).”

According to the top analyst, a move above $21,500 would signal a fresh bull market for BTC. Such a move could boost the king crypto to a fresh all-time high in the coming months.

“And here we go… [The] next impulse has either begun or is imminent and BTC dominance is beginning to spike off the teal region as expected. Expecting a mega run in dominance as BTC rallies to a new all-time high over the next six months or so.”

The crypto strategist also says that Bitcoin’s current market structure appears to be flashing September 2020 vibes. Just in case you don’t remember, that was when Bitcoin consolidated around $9,000 before exploding to $60,000.

Credible highlights that Bitcoin is in the midst of a long-term bull market and that last year’s deep correction is part of a five-wave uptrend, according to the reports coming from the online publication the Daily Hodl.