Top Analyst Predicts That Bitcoin Will Experience An Epic Surge In 2023
According to a well-known cryptocurrency specialist, Bitcoin (BTC) could make a significant upward rise in 2019.
According to 187,900 of his Twitter followers, Altcoin Sherpa, a pseudonymous expert, Bitcoin is showing signs of its bear market rise from 2019, when the king cryptocurrency soared from $3,000 to $14,000 in a few of 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.
According to the analyst’s chart for Altcoin Sherpa, Bitcoin might increase to over $38,000, which would represent a potential increase of almost 130% for the cryptocurrency asset with the greatest market cap.
Although the analyst believes Bitcoin might experience a bullish run in the coming year, he also cautions that BTC may still experience one more capitulation event before it begins to rise.
“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.”
As for Bitcoin and the rest of the crypto markets, Capo, a fellow strategist, believes that prices would certainly decline.
“Remember:
Trend is still bearish. Indicators are pointing to full capitulation event. Bad news should come soon.
BTC $12,000
ETH $600-$650
Altcoins 50-70% potential drop (shitcoins even more)
