Claim BonusBitcoin Bull Run Imminent; BTC New ATH Soon?
Bitcoin News: Bitcoin (BTC) is riding on an uptrend registering a massive surge of 81% on the year to date (YTD) basis. BTC is still trading down by 56% from its all time high (ATH) of $68,789 registered on November 10, 2021. However, crypto analyst suggests that Bitcoin might see a new ATH this year.
Bitcoin Bull Run Coming In?
Bitcoin entered the year 2023 with a trading price of $16,547. Surging against the sentiments, BTC price have almost doubled since then. Bitcoin price managed to record a spike of around 60% in the last 90 days to trade over the crucial $30K level. It is important to note that the world’s largest crypto price witnessed a jump of 36% when the global banking system saw major collapses.
Also Read: This One Metric Indicates Strong Bitcoin Accumulation Ahead of 2024 Halving
Crypto Analyst, Credible Crypto suggested that BTC might see a new all time high this year. This implies that Bitcoin will breach $69k by December, which is the only possible scenario under the aggressive bull run.
He mentioned that the ongoing Bitcoin price rally will end in settling somewhere between $30K-$40K. However, the next six months will see a massive accumulation which will eventually head for the new ATH. After, hovering around the $28K-$29K price levels, Bitcoin managed to break out above the $30k price level.
The analyst highlighted that BTC lost the prior $30k price level due to the wave of black swan events. The collapse of TerraLuna Labs, 3AC and FTX crypto exchange triggered massive liquidations and panic selling. Read More Bitcoin News Here…
He added that reclaiming these price levels will see traders hanging around and who panic sold their holdings take their time to accumulate again. This will eventually trigger the ride to $70K.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- U.S. CFTC Committee Appoint Ripple, Coinbase, Robinhood CEOs to Boost Crypto Regulation
- What Will Spark the Next Bitcoin Bull Market? Bitwise CIO Names 4 Factors
- U.S. CPI Release: Wall Street Predicts Soft Inflation Reading as Crypto Market Holds Steady
- Bhutan Government Cuts Bitcoin Holdings as Standard Chartered Predicts BTC Price Crash To $50k
- XRP News: Binance Integrates Ripple’s RLUSD on XRPL After Ethereum Listing
- Solana Price Prediction as $2.6 Trillion Citi Expands Tokenized Products to SOL
- Bitcoin Price Could Fall to $50,000, Standard Chartered Says — Is a Crash Coming?
- Cardano Price Prediction Ahead of Midnight Mainnet Launch
- Pi Network Price Prediction as Mainnet Upgrade Deadline Nears on Feb 15
- XRP Price Outlook Amid XRP Community Day 2026
- Ethereum Price at Risk of a 30% Crash as Futures Open Interest Dive During the Crypto Winter
