$30,000 BTC at the end of 2023
Building on my previous insights from Will Bitcoin Reach $100,000 in 2023?
My current prediction is that Bitcoin will close 2023 at around $30,000, subject to a deviation of $2,500 in either direction. This outlook isn't arbitrary; it's grounded in a careful analysis of market trends and a thorough review of historical data.
What’s particularly telling is this recurring pattern in the yearly charts: the third year of each cycle has consistently failed to close above the previous cycle's second-year high. Similarly, it never closed below the first year's low.
I also project a local top for Bitcoin of around $48,500, with a $2,500 range in each way. This observation stems from the previous cycle, where the third year reached a high equivalent to the last year's candle open.
Also, be aware of a potential 50% downward risk, as evidenced by the first cycle when the third year bottomed almost 50% below the candle open. Although this outcome is unlikely, it's essential to consider all possibilities when planning your strategy.
My current prediction is that Bitcoin will close 2023 at around $30,000, subject to a deviation of $2,500 in either direction. This outlook isn't arbitrary; it's grounded in a careful analysis of market trends and a thorough review of historical data.
What’s particularly telling is this recurring pattern in the yearly charts: the third year of each cycle has consistently failed to close above the previous cycle's second-year high. Similarly, it never closed below the first year's low.
I also project a local top for Bitcoin of around $48,500, with a $2,500 range in each way. This observation stems from the previous cycle, where the third year reached a high equivalent to the last year's candle open.
Also, be aware of a potential 50% downward risk, as evidenced by the first cycle when the third year bottomed almost 50% below the candle open. Although this outcome is unlikely, it's essential to consider all possibilities when planning your strategy.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.