- Bitcoin is still in profitable buying zone.
- The price of bitcoin is expected to reach $42,000 this year.
- BTC price is up by 0.66% indicating a bullish momentum in the last 24-hours.
There are a lot of price predictions for Bitcoin floating around the cryptocurrency world from various pundits such as Peter Brandt, a well-known technical analysis specialist who predicted the 2021 BTC crash and has recently revealed his 2023 price objective for the cryptocurrency that has the largest market capitalization.
According to DavetheWave, a Bitcoin specialist and analyst, the most popular cryptocurrency, BTC, is still in a profitable buying zone. In reference to the current state of Bitcoin, he recently stated that “lesser nominal corrections and higher real corrections are just how it should be with BTC on the route to price discovery.”
If DavetheWave’s prediction for 2023 comes true, the price of bitcoin will rise to more than $40,000. It is important to note that this anticipated price objective for BTC equates to roughly 90.5% of the price of the leading cryptocurrency at the present time.
In a series of tweets, DavetheWave gave the impression that he was drawing comparisons between the current price of bitcoin and its historical predecessors, such as the year 2021, when the price of bitcoin hit $69k. In his recent Twitter post, the Bitcoin expert stated that “A significant amount of debate centers on the question of whether or not the subsequent cycle would be similar to those that came before it.” “My curiosity is piqued as to whether or not the development of the market would result in more irregular cycles, such as booms and busts.”
Over the past few days, BTC price has been increasing in a steady wave, which has led to BTC recording new all time highs (ATH) of $21,438.66 in the month of January. At the time of this writing, BTC price was up by 0.66%, where it was trading at $20,944.71, indicating that the bulls were in charge of the BTC market in the last 24-hours.
