Analyst’s Notable Bitcoin Forecast for 2023
The analyst, known by the nickname TechDev, talked about the impact of BTC’s price cycles on the price, with over 402,000 followers. Under normal circumstances, halving, or BTC reward halving, determines the beginning of the bull. The next halving will be held on April 18, 2024. Because of this, many analysts predict the next bull season to be experienced in real terms in 2025. However, TechDev thinks that the traditional narrative that BTC’s price cycles are driven by halving cycles will be disrupted.
Halving cycles are four-year intervals during which Bitcoin miners’ block rewards are halved and that many investors believe play a role in putting pressure on the price. The seasoned analyst thinks that in 2023, with this expectation, the bull will start early and surprisingly the king crypto will experience an unusual cycle.
TechDev predicts that a bounce in Bitcoin next year will coincide with the weakening of the US dollar, comparing it to China’s ten-year bonds to depict the global liquidity cycle. The analyst also argues that Bitcoin peaked in April 2021 instead of November, saying that the bear market started earlier than many believe and we are very close to the end. The beginning of the bear market in April was also voiced by different analysts.
“BTC hit its true peak in April 2021. LTC’s structure (orange) is easier for most to digest. The parabolic peak and the dispersive peak make November ’21 a lower peak. The majority still do not seem to understand that corrective waves can make new highs. I used to be part of the majority.”
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