Bitcoin [BTC]: Historical precedents point at a price rally in 2023 with this condition
Many investors currently hold the king coin at a profit.is poised to surge in 2023. The experts have shared their predictions based on historical trends and patterns observed in the BTC’s price movements in the 2018 – 2019 market cycle.looked at BTC’s on-chain active address data during the 2018-2019 cycle and found that it generated three individual bottoms as part of the reversal process.
“If bitcoin follows the triple bottom structure of the last major cycle, we’re about to see incremental price increases across 2023. Bitcoin’s current “fair price” is at $43 598, closely aligned with our last price projection of $46 092.”studied the behavior of BTC long-term and short-term holders in relation to the coin’s realized price.
This has often led to a rally in BTC’s price. In the current market cycle, long-term holders are expected to gain market control and boost prices gradually, Woominkyu noted.
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