{"id":539398,"date":"2023-06-23T22:00:17","date_gmt":"2023-06-23T22:00:17","guid":{"rendered":"https:\/\/wncen.com\/?p=539398"},"modified":"2024-06-11T08:14:00","modified_gmt":"2024-06-11T08:14:00","slug":"crypto-analyst-predicts-bitcoin-to-reach-above-in-2023","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-predicts-bitcoin-to-reach-above-in-2023\/","title":{"rendered":"Crypto Analyst Predicts: Bitcoin (BTC) To Reach $69,000 And Above In 2023"},"content":{"rendered":"

As the world of crypto continues to evolve, traders and analysts are closely monitoring the Bitcoin (BTC) charts for clues about future price movements. Among them, the popular analyst known as Credible Crypto has shared<\/a> his insights, predicting a new all-time high for Bitcoin by 2023. <\/span><\/p>\n

The prognosis relies on the assumption of a continuing “parabolic advance” that could drive the token beyond its previous peak of $69,000.<\/span><\/p>\n

Predicting A Parabolic Advance For Bitcoin<\/span><\/h2>\n

The essence of Credible Crypto’s prediction lies in the nature of Bitcoin’s “parabolic advance.” This concept describes a situation where momentum in the price of an asset increases exponentially until it reaches its peak<\/a>.<\/span><\/p>\n

Related Reading: Nansen Forecast For Bitcoin Bull Run: Regulatory Clarity And Lower Inflation<\/a><\/div>\n

According to Credible Crypto, such advances have been evident in Bitcoin’s history, as observed during its ascents from $3,000 to $14,000 and from $10,000 to $60,000.\u00a0<\/span><\/p>\n

Bitcoin\u2019s recent performance, characterized by firm support at $25,000 on monthly timeframes, is considered by Credible Crypto as potentially setting the stage for another round of parabolic advance. This new climb, the analyst suggests, should produce monthly moves of more than $10,000, filling the $40,000 gap to the previous all-time high.<\/span><\/p>\n

\"Analysis
Bitcoin (BTC) analysis from Credible Crypto on Twitter<\/figcaption><\/figure>\n

A ‘Logical’ Guess For New Heights<\/span><\/h2>\n

While cautioning that these are estimations based on current market conditions, the trader puts forth October 2023 as a “fairly logical guesstimate” for when Bitcoin<\/a> could reach its new all-time high. He clarifies that it’s not a definitive prediction, but rather an estimation based on the logic of Bitcoin’s past behavior.\u00a0<\/span><\/p>\n

The analyst noted:<\/p>\n

I am not saying we MUST hit new all-time highs by October, I AM saying I do think we will hit new ATH by the end of this year, and if someone forced me to pick a month in which I think this will occur it would be October. Let\u2019s see how things play out.<\/span><\/p><\/blockquote>\n

Meanwhile, over the past 7 days, Bitcoin has made significant moves<\/a>. The asset has shown a huge recovery from its recent bloodbath amid the United States Security and Exchange Commission (SEC) lawsuit on the two largest crypto exchanges, Binance and Coinbase.<\/p>\n

Bitcoin has tapped a notable high of above $30,000<\/a> bringing the asset to record a nearly 20% gain to its value in the past 7 days. Notably, BTC’s surge comes amid financial giants such as BlackRock embracing the crypto future.<\/p>\n

BlackRock, which is the world’s largest asset manager, last week\u00a0disclosed its latest plan<\/a> to launch a Bitcoin exchange-traded fund (ETF) if it gets approved by the US regulator, sparking an incredibly rally in the price of BTC.<\/p>\n

Related Reading: BlackRock Inches Closer To Launching Bitcoin ETF: Potential Impact On BTC Price<\/a><\/div>\n

At the time of writing, Bitcoin currently trades above $30,000 after trading below that price range throughout last week.<\/p>\n

\"Bitcoin
Bitcoin (BTC)\u2019s price moving sideways on the 4-hour chart. Source: BTC\/USD on TradingView.com<\/a><\/figcaption><\/figure>\n

In the past 7 days, Bitcoin\u2019s total market capitalization has also seen a boost of 18.1%, amounting to an additional $90 billion. The market capitalization of Bitcoin presently hovers at $585.2 billion, an increase from last Friday’s $494 billion.<\/span><\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As the world of crypto continues to evolve, traders and analysts are closely monitoring the Bitcoin (BTC) charts for clues about future price movements. Among them, the popular analyst known as Credible Crypto has shared his insights, predicting a new all-time high for Bitcoin by 2023. The prognosis relies on the assumption of a continuing “parabolic advance” that could drive the token beyond its previous peak of $69,000. Predicting A Parabolic Advance For Bitcoin The essence of Credible Crypto’s prediction lies in the nature of Bitcoin’s “parabolic advance.” This concept describes a situation where momentum in the price of an asset increases exponentially until it reaches its peak. Related Reading: Nansen Forecast For Bitcoin Bull Run: Regulatory Clarity And Lower Inflation According to Credible Crypto, such advances have been evident in Bitcoin’s history, as observed during its ascents from $3,000 to $14,000 and from $10,000 to $60,000.\u00a0 Bitcoin\u2019s recent performance, characterized by firm support at $25,000 on monthly timeframes, is considered by Credible Crypto as potentially setting the stage for another round of parabolic advance. This new climb, the analyst suggests, should produce monthly moves of more than $10,000, filling the $40,000 gap to the previous all-time high. A ‘Logical’ Guess For New Heights While cautioning that these are estimations based on current market conditions, the trader puts forth October 2023 as a “fairly logical guesstimate” for when Bitcoin could reach its new all-time high. He clarifies that it’s not a definitive prediction, but rather an estimation based on the logic of Bitcoin’s past behavior.\u00a0 The analyst noted: I am not saying we MUST hit new all-time highs by October, I AM saying I do think we will hit new ATH by the end of this year, and if someone forced me to pick a month in which I think this will occur it would be October. Let\u2019s see how things play out. Meanwhile, over the past 7 days, Bitcoin has made significant moves. The asset has shown a huge recovery from its recent bloodbath amid the United States Security and Exchange Commission (SEC) lawsuit on the two largest crypto exchanges, Binance and Coinbase. Bitcoin has tapped a notable high of above $30,000 bringing the asset to record a nearly 20% gain to its value in the past 7 days. Notably, BTC’s surge comes amid financial giants such as BlackRock embracing the crypto future. BlackRock, which is the world’s largest asset manager, last week\u00a0disclosed its latest plan to launch a Bitcoin exchange-traded fund (ETF) if it gets approved by the US regulator, sparking an incredibly rally in the price of BTC. Related Reading: BlackRock Inches Closer To Launching Bitcoin ETF: Potential Impact On BTC Price At the time of writing, Bitcoin currently trades above $30,000 after trading below that price range throughout last week. In the past 7 days, Bitcoin\u2019s total market capitalization has also seen a boost of 18.1%, amounting to an additional $90 billion. The market capitalization of Bitcoin presently hovers at $585.2 billion, an increase from last Friday’s $494 billion. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,1144,6664],"class_list":["post-539398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusd","tag-crypto"],"acf":[],"yoast_head":"\nCrypto Analyst Predicts: Bitcoin (BTC) To Reach $69,000 And Above In 2023<\/title>\n<meta name=\"description\" content=\"As the world of crypto continues to evolve, traders and analysts are closely monitoring the Bitcoin (BTC) charts for clues about future...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Analyst Predicts: Bitcoin (BTC) To Reach $69,000 And Above In 2023","url":"http:\/\/wncen.com\/news\/crypto-analyst-predicts-bitcoin-to-reach-above-in-2023\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-analyst-predicts-bitcoin-to-reach-above-in-2023\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusd","crypto"],"dateCreated":"2023-06-23T22:00:17Z","datePublished":"2023-06-23T22:00:17Z","dateModified":"2024-06-11T08:14:00Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Analyst Predicts: Bitcoin (BTC) To Reach $69,000 And Above In 2023\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-predicts-bitcoin-to-reach-above-in-2023\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-analyst-predicts-bitcoin-to-reach-above-in-2023\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusd\",\"crypto\"],\"dateCreated\":\"2023-06-23T22:00:17Z\",\"datePublished\":\"2023-06-23T22:00:17Z\",\"dateModified\":\"2024-06-11T08:14:00Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539398"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=539398"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539398\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=539398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=539398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=539398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}