Bitcoin Price Prediction: Is This The Bottom For BTC Price Hitting $100K In 2023?

Since November, Bitcoin prices have been trending sideways in the $16.5K to $17K range. Traders anticipate a slight upward move in Bitcoin price near Christmas.

Analysts believe that Bitcoin price could experience an upside move close to Christmas. However, a Santa Claus rally to a move above $18K would be difficult at this time. Analysts and experts believe that there will be a huge bullish rally in 2023, with Bitcoin price reaching $100K.

Bitcoin currently trades at $16,845. The current Bitcoin price is $16,845. The BTC price has risen just 1% over the past 24 hours. The price fluctuates more.

Bitcoin Price can rally above $17K

CredibleCrypto, a crypto analyst, predicted that Bitcoin’s price could rise to $17K by 2022. He claims that Bitcoin is currently in the 16.3K-16.5K range, and BTC dominance is starting to move up.

Bitcoin’s price will rise above $17K, and then it can be seen if the market is bullish or declining. Bitcoin must hold this level to make an upside move. CredibleCrypto previously shared two scenarios Bitcoin (BTC price) as it tagged again the $16.5K support. He is bullish that Bitcoin will rise to $19K within the near term.

He also fully supports BitMEX cofounder Arthur Hayes’ prediction that Bitcoin could reach $100K by 2023 or 2024.

Why Bitcoin’s Price Could Hit 100K by 2023

Experts predict that 2023 will be a better years for both the stock and crypto markets as the Federal Reserve moves to purchasing treasuries. Felix Zulauf, of hedge fund Zulauf Consulting, and Arthur Hayes stated huge bullish rallies in the middle of 2023, possibly in April or May, will bring about a turn in events that could end the cycle.

The first to rebound are technology stocks, which experienced massive selloffs during this bearish. Zulauf stated that the economy will experience a decline in liquidity. Hayes predicts that Bitcoin will reach $100K by the end of 2023. It all depends on Fed’s pivot.