Bitcoin is predicted to reach $ 45,000 by May 20

Analysts at K33 Research have shared their forecasts of the flagship cryptocurrency’s value. Experts expect BTC $56,303.00 Bitcoin -1.62% Market capitalization $1.11 trillion VOL. 24 hours $2.74 billion to rise to $ 45,000 on May 20, 2023.

Experts have noticed that the bearish trends in 2018 and 2022 were very similar. Five years ago, during a downward trend, the price of bitcoin fell by 84% from its peak, and last year — by 78%. In addition, both dumps lasted approximately 370 days, and a bullish rally began after they ended.

Analysts have suggested that the bitcoin rate will rise to around $ 45,000 on May 20. After that, the token will start to fall rapidly, as it did in the second half of 2019.

K33 Research explained the correlation between the change in the BTC rate in 2018 and 2022 by the peculiarities of the behavior of hodlers. In their opinion, long-term investors do not want to sell bitcoin while the rate fluctuates in the range of less than 60% of the previous peak. They use the period of growth in the value of the coin from the bottom to buy cryptocurrency and are going to get rid of a large number of assets when its price reaches 66% of the historical maximum ($ 45,000).

As for the long-term prospects for the value of Cryptocurrencies, Matrixport researchers are convinced that bitcoin will manage to rise to $ 63,000 in exactly one year, in the spring of 2024. The analysts predicted that the token price will grow over the next 3 months, approaching peak levels by next spring.