Bitcoin Could See Massive Moves In 2023: BTC To Mirror Surge From 2019?

Bitcoin optimistic prediciotns continue to flow these days like there’s no tomorrow. Check out the latest ones below.

A popular crypto analyst believes that Bitcoin (BTC) could pull off a major move to the upside next year.

Pseudonymous analyst Altcoin Sherpa said that Bitcoin is flashing vibes of its 2019 bear market rally when the king crypto surged from $3,000 to $14,000 in a few months.

“BTC: we saw a massive rally in 2019 after the bottom of the bear market; from $3,000->$14,000.

I personally think we’ll see another bear market rally in 2023.

Is it going to go as high as 2019 percentage-wise? In my opinion, not close.

But I do think we’ll see some strong moves.”

The same analyst predicted that Bitcoin could go on a bullish run next year, he notes that BTC could still witness one more capitulation event before it starts rallying.

“Things to note:

-Macro environment way different now vs. 2019

-We haven’t seen that final capitulation yet (i.e. $6,000->$3,000 in 2018). If we see that, it could be even more likely this happens

-If we do see a strong rally, it’s highly unlikely this is going to be sustainable.”

Popular crypto analyst Benjamin Cowen said that Bitcoin (BTC) holders should be on the lookout for one signal that could mark the end of the king crypto’s extended bear market.

In a new video, Cowen said that Bitcoin’s current percentage drawdown from its all-time high is approaching a level that signaled the bottom of the 2018 and 2014 bear markets.

“Bitcoin is sort of in this range of being 75% down from the all-time high, so it’s sort of like in between. It’s not at the levels that it was at in this past summer, but it’s also not as far down as it historically goes either…”

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $16,673.