Cryptocurrency analyst predicts large-scale growth of bitcoin in 2023

A popular crypto strategist known on Twitter as Inmortal believes that bitcoin is preparing for a large-scale growth in 2023. He told his 189,800 Twitter followers about this in a tweet.

Analyzing the crypto blogger’s chart, experts suggest that bitcoin is likely to form a bullish trend. The trend is also evidenced by the fact that traders are actively buying up BTC even though its rate continues to fall. Inmortal’s chart also shows that the flagship cryptocurrency began to grow rapidly in three time periods — January 2019, October 2020, and July 2021.

As BTC gains momentum, Inmortal believes that the cryptocurrency will begin its largest growth in 2023, mirroring the dynamics of BTC between March and July 2019, when the main virtual coin rose from about $ 3,000 to $ 14,000.

«We will repeat this in 2023,» the analyst optimistically predicts. In the short term, Inmortal predicts that BTC will jump to $ 17,500.

Not all industry experts share the crypto blogger’s encouraging vision. We recently reported on the price forecast for the flagship cryptocurrency from Fairlead Strategies LLC, an independent financial risk researcher. The founder of the research bureau, Katie Stockton, predicts that bitcoin will fall to $ 15,600 and then to $ 13,900. The expert emphasized that the crypto market experienced a very difficult year in 2022, as many negative events occurred, including the tightening of the US Federal Reserve’s regulatory policy, the collapse of the Terra-Luna ecosystem, hedge funds Three Arrows Capital and the FTX cryptocurrency exchange. According to Stockton, the market will take a long time to recover from the turbulence it experienced this year.

At the time of writing, bitcoin BTC $56,536.26 Bitcoin -2.88% Market capitalization $1.11 trillion VOL. 24 hours $4.57 billion is worth $ 16,853, and the asset’s price has dropped by less than 1% compared to the previous day. The market capitalization of the virtual coin is $ 324.2 billion, and daily trading volumes are almost $ 3 billion.