Entering 2023, analysts have suggested that they do not expect the crypto winter to continue its Bitcoin price effects in the new year. cryptocoin.comWe have included the 2023 BTC forecasts in this article.
Will Bitcoin price change in the new year?
Popular crypto analyst and investor Jason Pizzino warns that Bitcoin is not guaranteed to set a new record as in previous bull cycles. In a new video, Pizzino tells his 279,000 YouTube subscribers that for Bitcoin to hit an all-time high in its next bullish phase, the flagship crypto asset must reach a key Fibonacci retracement level and break above certain resistance levels. However, the crypto analyst and investor says it is impossible to predict the new record for Bitcoin “for now”.
Bitcoin also needs to pull out monthly volatility peaks to show buyers returning to the market. This will be an important confirmation point for macro players. When that happens, there will be a pretty strong case of Bitcoin hitting an all-time high. However, for now, it cannot be said that it will reach its all-time high. What happens in the past is that it always hits an all-time high. Furthermore, Pizzino predicts that if the flagship crypto asset drops to around $15,000, Bitcoin could rise as high as $45,000 in the next cycle in the “worst case scenario”.
A new rally is expected for BTC
The widely followed crypto analyst predicts that the Bitcoin bear market will end with a rally. However, crypto analyst Rekt Capital, nicknamed Rekt Capital, told his 330,600 Twitter followers that Bitcoin will rise more than 176% next year, from $16,500 at the time of this writing. The analyst bases his predictions on Bitcoin’s historical price action using the principles of the four-year cycle. Per model, there are four annual candles for each phase of a market cycle. The first candle is the peak of the bull market, the second candle is the bear market, the third candle is bottoming out with bullish potential. Then the fourth candle is the recovery and the beginning of a new trend. Rekt predicts the rise of the third candle that will push BTC up to $46,000 in 2023.
The analyst says it is even more unlikely that Bitcoin will hit its all-time high, as it will historically occur at the fourth or first candlestick according to the model. In his statement, the analyst said:
“On the other hand, a plus 31% BTC rally is even more unlikely. A plus 316% move from current prices causes BTC to surge to ~$68,000, almost equaling all-time highs, while old ATHs [all-time highs] are Candle 4 at the earliest and Candle 1 at the latest. tends to be revisited. “
Crypto winter won’t affect Bitcoin
Moss predicts that the crypto winter will not affect Bitcoin in the very long term. He also claims that this is “a technological revolution that has changed the course of humanity and is driving financial markets.” In his statement, he said:
“Bitcoin solves a problem that has plagued humanity since day one, namely how can I secure my property so that it cannot be manipulated, seized or stolen?” “I can take custody of Bitcoin and if I want to send it to you, no one can stop it, block it, prevent it.”
He suggested this because if phrases like “The dollar is not a good store of value” are used, people will use Bitcoin as an inflation hedge. This causes the demand for Bitcoin to continue to increase. According to Moss, the price of Bitcoin will most likely reach $33,000 to $38,000 by the end of 2023. Moss finally said in his speech:
“The more people want to buy Bitcoin, the more demand there is for Bitcoin, but the supply is limited to 21 million.”