2022 was very low and crypto winter hit the crypto market very badly including for king of cypto Bitcoin. Bitcoin prices have declined due to rising inflation and interest rates.
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.