New All-Time Highs For Bitcoin In 2023? Analyst Shares Ultra Bullish Prediction
November 11 2023 - 1:00PM
NEWSBTC
The flagship cryptocurrency, Bitcoin, is up by over 100%
year-to-date (YTD). Despite these impressive gains, there is still
reason to believe that the crypto token’s resurgence isn’t done, as
there could still be new highs before the year runs out based on
analysis from prominent figures in the community. Bitcoin To
Hit $69,000 This Year? In a post shared on his X (formerly Twitter)
platform, prominent crypto analyst Dave the Wave suggested that
Bitcoin could surge to its previous highs this last quarter of the
year. Although he didn’t state what highs exactly, the accompanying
chart he shared in the post showed that he was hinting at Bitcoin’s
all-time high of about $69,000. A run to previous #btc highs
this last quarter is not unthinkable. pic.twitter.com/INesJPY9ov —
dave the wave🌊🌓 (@davthewave) November 9, 2023 Related Reading:
Polygon (MATIC) Poised For A Bullish Surge, Analyst Who Predicted
2021 Fall Says This isn’t the first time the crypto analyst has
shared his belief that Bitcoin could hit $69,000 this year. In an
earlier X post, he shared a similar chart, which put up a price
target of $70,000 based on the speculation of “another
mini-parabola frontrunning the halving.” It is not unusual
for the market to pump significantly, as historical data suggests.
Bitcoin’s price has increased significantly before and after every
halving event. Before the most recent halving event, which took
place in 2020, BTC rose by over 17% in the weeks leading up to it
and saw a further 559% increase after the event. Bitcoin
(BTC) is currently trading at $37.072. Chart: TradingView.com
However, many might argue that an all-time high (ATH) before the
halving event, which takes place in April 2024, seems like a far
reach, especially if the analyst is projecting that the new high
will occur before this year runs out. Bitcoin To Hit New
All-Time High Before April? While a new all-time high before the
year runs out seems like a big task, some prominent figures have,
however, backed the crypto token to hit a new ATH before April. One
of them happens to be Bitcoin OG and founder of Blockstream, Adam
Back. Interestingly, Back predicted (back in August) that BTC will
hit or even surpass $100,000 before March 31st, 2024. To show
how confident he was of his assertion, the crypto founder went as
far as placing a bet with another X user who disagreed with his
position. They both agreed to wager a bet of 1 million satoshis,
with the winner (depending on Bitcoin’s price by March 31, 2024)
taking all. Related Reading: Solana Breaks Past $54 On Steady
Price Momentum – Will SOL Hit $60 This Month? The CEO of Jan3 and a
fellow Bitcoiner, Samson Mow, had also agreed with Back in some
way, as he believes that Bitcoin will also hit a new ATH
pre-halving and not post. However, unlike Back, he didn’t mention
any price target. Featured image from Shutterstock
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