There are a lot of rumors and predictions in the Crypto World, but most of them are just bullish techniques used by market manipulators to make people put money into certain areas. The Bitcoin rally predictions are no different; numerous rumors and predictions of a possible rally were made over the course of the past year, but none were accurate.
Bitcoin’s current charts and the rally in its price in the last few weeks have led many to believe that this might be the beginning of the long-awaited ‘recovery season’. Even though Tim Draper’s $250,000 price prediction may not be met, most experts believe that BTC will recover and reach $20,000.
Although, the beginning of 2023 was not the best for Bitcoin. In only two weeks’ time, BTC has reached almost $19,000, and it looks like the uptrend will continue. With a market cap of $364.2 billion, BTC has gained 4% in the last 24 hours. According to many analysts, Bitcoin will hit the $20,000 mark or more before the end of 2023.
In a bullish bitcoin price prediction, Anthony Scaramucci, the CEO of SkyBridge Capital and the short-lived White House communications director under U.S. President Donald Trump, predicted 2023 will be bitcoin’s “recovery year.”
The Bitcoin price has reached its highest level in over two months, but the word on every trader’s lips is “bull trap.” After delivering 25% returns in a single week, BTC/USD remains under suspicion among Bitcoin bear market survivors.
Everyone from professional traders to crypto newbies have been talking about the recent price action on Crypto Twitter. Some are calling it a bull trap, while others are a bit more optimistic. To get a sense of the market sentiment right now, we take a look at some of the trending tweets.
Based on a mix of bullish technical and macro indicators, Bitcoin could reach $25,000 by March. Let’s look at some of these indicators and discuss what they mean for the price of Bitcoin in the near term.
The latest rally in bitcoin price in 2023 has been attributed to last week’s cooling inflation data and strong job numbers.
Bradley Duke, co-chief executive at crypto exchange-traded product provider ETC Group, said in an emailed comment that bitcoin has been climbing steadily over the past week. The “main driver” of the rally is “positive economic data from the U.S., including lower inflation figures and strong job growth numbers.”
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n 2022, Bitcoin and Ethereum have fallen 64% and 67%, respectively; can they recover