A famous analyst in the crypto space, Altcoin Sherpa, has informed his 187,900 followers on Twitter that BTC is giving similar vibes to that 2019 crypto winter. He refers to how BTC surged from $14,000 to $3,000 in some months of that year.
In his words: “In 2019, there was a massive rally for BTC from the bear market bottom of $3,000 to $14,000. We will experience another BTC rally in 2023. Would the rally be as high compared to that of 2019 percentage-wise? To the best of my understanding, I don’t think so. However, I believe there will be some solid moves.”
Altcoin Sherpa predicts that BTC’s price could rise to about $38,000, indicating that the analyst is suggesting that there would be a likely 130% increase in the leading crypto’s market value. The analyst foresees a bullish run for Bitcoin next year. He also predicts that BTC may still experience capitulation before it increases in value.
He said, “here are some things to note: the macro environment has changed greatly compared to 2019. We don’t know what the final capitulation is yet. If we can see it now, the bullish action is more likely to happen; If we experience a solid rally, it is more difficult for this to be sustainable,”
Other Analysts’ 2023 BTC Price Forecast
More analysts are coming out to share their opinion regarding next year’s outlook on the crypto market, and some of their forecasts may contradict each other. For instance, crypto analyst Capo predicts that BTC and other crypto coins are headed for a bullish run.
He said, “as you can see, the market trend still signals bearish, which means a full capitulation may occur. Expect some bad news soon. For example, BTC at $12,000, ETH at $600-$650, and Altcoins may experience a 50-70% potential drop (shitcoins even more). Please stay safe. The turn of events may get pretty ugly.”
The top BTC strategist, Michael van de Poppe, expressed his optimism concerning Bitcoin. In his 2023 forecast, he predicted that the leading digital asset would skyrocket and possibly its market capitalization may double, similar to Altcoin Sherpa’s predictions.
But for BTC to meet these predictions, it must first cross its $20,600 mark. However, at the time of writing, it struggles to stay at $16000, and its resistance is now at $18,600. However, if Van de Pope’s prediction becomes true, BTC should be exchanged at $38,500.
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