Will Bitcoin Price Reach ATH in 2023?
Bitcoin price is still sideways as investors await US Federal Reserve Chairman Jerome Powell’s speech before the US Senate Banking Committee today and the US House Financial Services Committee on Wednesday.
BTC price is currently trading around $22,400 and testing $22,584 in the last 24 hours. While crypto market sentiment remains neutral, investors are likely to remain cautious due to a few key events this month. In fact, the week has been pretty busy with many macro events, such as the Chinese CPI inflation data, the Bank of Japan’s rate hike decision, and the US jobs data for February.
Popular crypto analyst Credible Crypto predicts that Bitcoin price may see another ATH in 2023, not after 2023. He believes that Bitcoin will face some final hurdles in the next few weeks before a major rally begins.
The FTX crisis still haunts crypto investors, but 73% of all bitcoins are in the hands of expert and institutional investors. The market is slowly recovering from the crypto winter. This Bitcoin rally will go faster than most as institutional investors and whales will buy large sums to push the price above the current ATH of $68,789.
Felix Zulauf of hedge fund Zulauf Consulting and Arthur Hayes, founder of BitMEX, said that the Bitcoin price will witness a major bullish rally in mid-2023, possibly in April-May. Hayes also claims that Bitcoin will reach $100,000 by the end of 2023.
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