• Bitcoin prices have recently jumped beyond the crucial resistance at $22,500, hinting at a possible bull run.
• It is possible that the rally is programmed and could be executed shortly, with a potential crash in Q1 2024.
• Popular analyst forecasts Bitcoin price reaching $25,000 in the next few weeks, followed by a pullback in February.
The crypto market is currently buzzing with Bitcoin prices skyrocketing beyond crucial resistance at $22,500. This has prompted many investors and analysts to predict a possible bull run in the near future and the prices climbing up to a new ATH. However, it is also possible that this rally is programmed and could be executed shortly, with a potential crash in Q1 2024.
Popular analyst, predicts the Bitcoin price prediction for 2023 and says that the prices may reach $25,000 in the next few weeks. According to the analyst, this could be followed by a massive pullback in February. To elucidate further, the analyst points to the chart which suggests a continuation to $23,100 and then a pullback to $22,000. This pullback is believed to trigger a massive leg up towards $25,000 and completing the ‚2023 bull run‘ by the end of the first week of February.
However, this could be the beginning of an even bigger crash than that witnessed in 2020, 2021 and 2022 when Bitcoin prices plummeted by a staggering 70%. Such a price crash could be the result of manipulation and the lack of real demand in the market. Therefore, investors should be cautious of their investments and trade only when they have a clear understanding of the market conditions.
Overall, Bitcoin prices have been steadily increasing with the hope of a bull run in the near future. However, investors must be aware of the risks involved and must do their due diligence before investing in the market.