Bitcoin showed growth during the first week of 2023

After ending 2022 in a sideways trading pattern, the flagship cryptocurrency started 2023 with a short-term rise. Although the BTC $98,140.25 Bitcoin 4.87% Market capitalization $1.94 trillion VOL. 24 hours $2.43 billion price is still below key support levels, cryptocurrency analysts have noted the positive movement of bitcoin.

During the first 7 days of the new year, the Cryptocurrency managed to grow by 6.6%, but as of January 8, this figure is 2.4%. According to experts, the $ 17,000 level remains a key resistance for bitcoin. «BTC should stay above $ 16,600 to avoid a fall and maintain the growth momentum. It is most likely that the growth of BTC will begin after reaching $ 17,000,» crypto trading expert and analyst Michael van de Poppe wrote on Twitter.

The relatively short history of BTC trading shows that the period after the end of a bear market is cumulative with mostly sideways price action. That is why most cryptocurrency analysts do not place big bets on 2023. After analyzing historical bitcoin price charts, BeInCrypto experts predicted that BTC will trade for $ 33,000 in April 2023.

Given that bitcoin will continue to grow in the coming months, Bernstein analysts believe that now is the perfect time to buy the flagship cryptocurrency, as BTC is at a low price level. According to the experts, after each market downturn, the industry has been gradually enriched by numerous virtual investments.