Coin Bureau, the million-subscribed crypto Youtube channel, has predicted the date when the Bitcoin price will rise in their new analysis.
Coin Bureau maps potential return date for Bitcoin
In a new interview with crypto analyst Benjamin Cowen, Coin Bureau’s Guy Turner says that the earliest crypto bull market could start in late July-September quarter or October-early quarter. In the live broadcast on January 6, analysts include the following predictions:
I hope we start to see signs of recovery towards the end of the year. Maybe the end of Q3 or the beginning of Q4.
But Guy says the crypto market will hit new lows for the first time this year, possibly before recovering in April:
I expect we’ll probably see new lows in the first quarter, that would be my best guess. I think we should look forward to that, and probably in terms of price action, I actually foresee a decent amount of sideways movement for the rest of the year.
Crypto analysts predict we will still have a sluggish time
According to the Coin Bureau server, 2023 is unlikely to be a “fantastically interesting year” with slow accumulation. In his own words:
In terms of price action, I don’t think we’re going to see an extraordinarily interesting year in such terms. I think it’s going to be a year for slow accumulation, dollar cost averaging and things like that, especially once these lows come in. Definitely a good year to move forward with caution.
Michaël van de Poppe marks a critical support level in the short term
Updating his technical analysis on the same day as Coin Bureau, Poppe mentioned that Bitcoin could reach a new low if it fails to maintain a vital support level. The crypto analyst says that for Bitcoin to stay above $16,750, it must see buying support, otherwise the largest asset is likely to drop:
The critical support lies at the $16,750 level. If he wants something, he obviously has to stop there. If we can’t hold there, it will be a relatively painful period for the markets… If the markets do not go above $16,700, we are probably looking at new lows. Also if you look at altcoins, it clearly shows the same view.
Van de Poppe also says that Ethereum and Litecoin could also drop:
ETH is not continuing to rally at this point. So we’re down here, I’m looking at $1,220 to $1,230 if we can’t increase our pace. The same goes for Litecoin. We’re looking at a balance between $71 and $72 if Litecoin isn’t picking up its pace, clearly rejecting $76 and starting to vomit even more.
Bitcoin price approaches 3-week high after CPI data
cryptocoin.com As we covered in our analysis, the BTC price climbed to $ 17,000 on January 7 after the end of the first trading week of the year. However, the short-lived spike provided Bitcoin’s highest price point since December 20, 2022. In this article, we have included the important topics of the FOMC meeting on December 13-14.