It’s just been revealed that there is a new Bitcoin prediction out these days for 2023. Check it out below.
Bitcoin’s new 2023 prediction is out
A popular crypto analyst weighs in on the potential gains of Bitcoin this year based on BTC’s four-year-cycle theory.
Pseudonymous crypto strategist Rekt said that he believes Bitcoin will likely bottom out this year according to the principles of the four-year cycle.
The cycle is based on Bitcoin’s halving event, when rewards issued to BTC miners are cut in half every four years. Bitcoin has historically ignited bull markets around the halving.
Rekt said the following:
“The BTC bear market is coming to an end, according to four-year cycle principles.
But a new bottoming out candle three is set to form next.”
“Past BTC candle threes have enjoyed +234% and +316% rallies
But what if we ignore candle three wicks?
Then in 2015, Bitcoin formed a +36% candle-body and in 2019 a +97% candle-body
If BTC rallies +36% in 2023 –> ~$22,300
If BTC rallies +97% in 2023 –> ~$32,400
Not far-fetched.”
Bitcoin to see a new ATH
A popular crypto analyst is looking at Bitcoin (BTC), laying out a timeline for the king crypto’s next all-time high (ATH).
Pseudonymous trader Rekt Capital has just talked about a time window for BTC’s next peak.
“According to the Four Year Cycle theory, a new BTC All Time High would occur at the soonest in Candle 4 (2024) & at the latest in the new Candle 1 (2025).”
He continued and said the following:
“If a new ATH were to occur in the 2024 Candle 4, it would occur months after the April 2024 BTC Halving.”
Rekt also explained their reasoning in a follow-up tweet.
“Historically, a strong indicator of where the BTC bottom is is when the bearish BTC Candle 2 performs its Yearly Close.
At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $16,588.
