October 1, 2023
Bitcoin News

Bitcoin Price Could See 150% Explosion In 2023

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

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $26,710.

A popular crypto analyst is expressing confidence that Bitcoin (BTC) could print new all-time highs this year.

Pseudonymous analyst Credible Crypto said recently that Bitcoin could hit a fresh all-time high this year based on historical precedence.

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

The optimistic predictions about the price of the most important digital asset out there continue. There have been multiple positive thoughts on Bitcoin coming from financial entities amidst the massive efforts to destroy the US dollar, and they continue.

People seem to look towards crypto more and more these days as a result of the financial crisis.

A popular crypto analyst thinks Bitcoin’s (BTC) price has not caught up with its “out-of-control” fundamentals yet.

In a new YouTube video, the anonymous host of InvestAnswers said recently that Bitcoin’s fundamental metrics are all going up except for BTC’s supply on exchanges, which is going down.

Large amounts of Bitcoin are outflowing from exchanges. According to the analyst, this is a definitive sign that can indicate a bullish period as deep-pocketed investors accumulate the top digital asset.