The analyst says that from the spring of 2023 until December, cryptocurrency has a chance to restore
The main crypto coin can enter the next bull phase, since earlier many participants in the digital assets market have “dispersed from the game”. But the risk of falling and testing new minimums is still preserved, LookIntoBitcoin analysts say.
At the same time, the technical picture inspires optimism. Despite the chance to reduce growth over the past time, there is an opportunity to reach a 200-week WMA at the $24’690 mark, experts noted.
The “explosive” rally of BTC at the beginning of this year overturned the “paper” losses of the participants of the crypto market. The question of the duration of positive dynamics, based on the testimony of the onchain-metrics, was also open, indicated in Glassnode.
“After one of the least volatile months in history, Bitcoin showed the explosive growth above $ 21,000,” analysts wrote.
StormGain expert Dmitry Noskov is sure that the digital asset industry can recover by the end of this year. According to him, in the near future, regulators of various countries can soften their betting policy. At the same time, investors will begin to get rid of dollar assets falling in the price and return to cryptocurrencies.
“With such a scenario from the spring of 2023, until December, crypto market has a chance of recovery. In this case, Bitcoin will return to growth and will be able to rise to the marks of $25,000–30,000. Ethereum has a chance to rise to $1,400–1,700 ”said Dmitry Noskov.
The founder of the consulting company WallstreetPartner Inc. Pavel Andreev is also positive in relation to the two most popular crypto coins. He believes that the funds in 2023 “will be actively purchased.” And then “due to the deepening of the economic crisis and trade wars on the one hand, and the restart of the printing press on the other, a new bull cycle will begin.”
“At first, bitcoin and Ethereum will grow, then the top alts, and when the trend for growth becomes obvious, the entire market will turn green,” the expert noted, emphasizing that the “capacity” formed this year will help to reach $ 70 by 2024 BTC. ‘000, and Ethereum — up to $ 3’000.
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