Game of Trades analysts predict bitcoin will soon reach $ 46,100

Cryptocurrency experts from Game of Trades have published their own forecast for the future of bitcoin. According to analysts, BTC $76,271.37 Bitcoin 0.34% Market capitalization $1.51 trillion VOL. 24 hours $3.39 billion will reach $ 46,100 earlier than expected. The experts made this conclusion based on the analysis of their own charts and past prices of BTC. According to Game of Trades, bitcoin will be trading at $ 46,000 in a few months.

Game of Trades specialists have identified 6 signs that the flagship cryptocurrency will continue to grow. According to analysts, all indicators of 2023 are at the same level as during the market cycles of 2015, 2018, and 2020, which were followed by the achievement of new highs by BTC:

1. Assessment of the accumulation trend. Major crypto companies have been in a deep accumulation mode since the FTX crash.
2. BTC calm zone. This is a measure of the ratio of the current market capitalization to the annual resting value. Whenever BTC’s resting value exceeds its market capitalization, it is believed that the market has completely capitulated and is ready to recover. In 2022, this figure fell to its lowest level.
3. BTC reserve risk. It is used to measure the confidence of long-term holders in the BTC price. This indicator also fell to its lowest level at the end of 2022.
4. The realized price of BTC (RP) is the value of all coins in circulation at the price at which they were last traded. BTC has been trading below this level since the FTX crash in November and until January 13. Bitcoin’s value is currently above RP, which is another positive factor.
5. The MVRV Z-score gives an idea of when BTC is undervalued or overvalued compared to its fair price. When this indicator normalizes, it is often considered the end of a bear market, which is what is happening now.
6. The Pewell Multiplier is an indicator that studies the fundamentals of mining profitability and its impact on market cycles. Its low values, as of now, indicate pressure on miners and long-term buying opportunities.

The words of Game of Trades analysts are confirmed by the Bitcoin Rainbow chart, which indicates that the growth of the market leader has just begun. Currently, BTC is in the Buy zone after a previous consolidation in the Fire Sale zone. The trajectory reflects the historical trend last seen in March 2020.