Crypto analyst and trader Jason Pizzino recently warned that it is not certain that Bitcoin will reach a new record high like it did in previous bull cycles.
It Might Not Be Possible- here’s why – Bitcoin can reach ATH only if it reach a critical Fibonacci retracement level and surpass certain thresholds. To reach this bitcoin price should cross $34,500, which would represent a 50% increase, which looks currently impossible.
Meanwhile analyst from coinpedia predicts bitcoin 2023 price prediction to be $43,959.19 on basis of the data from glassnode. According to Glassnode, the total supply held by holders has reached a new ATH of 13.62 million BTC. A balance in trade activities could settle the price at $34,412.75.
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