Bitcoin - Is it going up in 2023?
Cycle Forecast for Bitcoin (BTC)
Bitcoin is currently under heavy pressure. The scandal surrounding FTX and the prospect of further insolvencies are making investors very cautious. Many investors are currently withdrawing their money from crypto exchanges and leaving the crypto market. Nevertheless, one does not recognize an extreme sell-off. Bitcoin manages to plateau again and again.
We have ventured a cycle analysis in the weekly chart. We liked 49 months (Kitchen cycle) and 752 days. According to the analysis, we have already found the bottom and rising prices could be imminent. The bitcoin price could really pick up speed in the middle of next year. Whether it will happen that way? The cyclical analysis always represents only one possibility. Other factors and external shocks can dominate and push the cycles into the background.
Comments
Post a Comment