In the last two days, the price of Bitcoin has increased up to 11% and crossed the $20,000 mark after a long time. The whole crypto industry was facing crypto winter and many people have lost their savings in crypto for the last two years.
But now the starting month of 2023 is becoming a historic period for crypto holders. Bitcoin has started rising again many crypto analysts have started predicting the price of Bitcoin. A crypto analyst on Twitter has predicted that the massive Bitcoin (BTC) rally is underway and it will lead up to the 2024 Bitcoin halving, which will reduce the available apex crypto supply.
According to the CryptoQuant analyst ‘PlanB’ has stated that the price of BTC has surpassed the key support from short-term holders and this is a clear indication of further price growth into 2024 when the Bitcoin halving event will occur.
The analysts have predicted that the 2024 halving event will cause the price of BTC to rise above $32,000 and it will set the stage for a bullish market in 2025 with a potential price of over $100K (ie. $100,000). While writing this article the price of BTC was trading at $20,500.
According to PlanB, the bottom level of Bitcoin was in November 2022 when the price reached the $15,500 mark.
This is big news for all crypto investors and holders and a good chance to add Bitcoin to their portfolio.
I am Pawan Kashyap currently living in Amritsar. I always try to grab new things from the cryptocurrency market. From my observations and trends in the market, I always try to provide the best and accurate information in the form of articles from this blog. Follow us on Facebook, Instagram, and Twitter to join us.