Cryptocurrency experts predict bitcoin’s growth to $ 33,000 in April

After a grueling bear market in 2022, when bitcoin lost 64% of its value, cryptocurrency market participants have high hopes for 2023. However, the relatively short trading history of BTC $93,286.56 Bitcoin -2.44% Market capitalization $1.85 trillion VOL. 24 hours $3.03 billion shows that the period after the end of a bear market is cumulative with mostly sideways price movements.

That is why most cryptocurrency analysts do not place high bets on 2023. After analyzing historical bitcoin price charts, BeInCrypto experts predicted that in April 2023, BTC will be traded for $ 33,000.

Based on the history of BTC trading, analysts have identified 4 major bear markets: 2011, 2014, 2018, and 2022. According to the hypothesis of lengthening bitcoin cycles, each subsequent bear market lasted longer, but the percentage price decline was smaller. According to analysts, the next local peak after the 2022 WTC macro may be reached between April 17 and June 26, 2023.

Regarding the projected price of bitcoin, BeInCrypto experts took into account the average Fibonacci retracement level — Fib 0.5 — as the most likely price for an upward movement in 2023. This figure, according to analysts, corresponds to $ 33,000.

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 the 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.