Bitcoin Predicted to Surge to $35,000 in 2023: Analyst

Introduction

A trader who accurately predicted the previous crypto rally earlier this year believes that Bitcoin (BTC) is set to repeat its recent surge from $28,000 to a new high of $35,000 in 2023.

Key Points

• Pseudonymous analyst DonAlt, with a following of over 500,000 on the social media platform X, suggests that Bitcoin's next major resistance level is at $60,000.
• DonAlt highlights the significance of Bitcoin closing above $32,000 last week, signaling a return to the all-time high range.
• Looking at the daily chart, DonAlt sees similarities in Bitcoin's current price behavior to its previous rally from $28,000.
• While optimistic about Bitcoin's prospects, DonAlt cautions that the cryptocurrency is in a vulnerable position and advises market participants to closely monitor its movements.

Conclusion

Bitcoin is currently trading at $34,572, and according to DonAlt, it has the potential for significant upward or downward movement. Investors are advised to pay close attention to Bitcoin's performance as any correction at this point could be severe.