During this session, current price of BTC is $16,944.30. BTC was consolidating between $16,884 and $16,633 from 17th Dec to 28th Dec. Now it is in Parallel up range. And it has bullish movement despite of fear in the crypto market. Now we are going to see strongest bitcoin price prediction, bitcoin technical analysis today.
Technical Analysis:
Current price is $16,944 and trading volume of about $7.9 billion in last 24 hours. On the 4 hour time frame, Bitcoin is approaching its next resistance level at $17,096 showing bullish movement. Currently, it is moving in a upward parallel channel after crossing its resistance at $16,884.
According to our technical analysis, we are bullish with BTC movement. Its next resistances are $17,096 and $17,279. Also, it has very strong resistance at $17,279 and we can see a small downfall at that level. And it could go up after retracement from that strong resistance.
If there is some negativity in other market then we can see a downfall in its price. There is good support at $16,633 and very very strong support at $16,442. And after extremely bad news, if price broke the Second support at $16,442 then we can expect a good correction in its prices.
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Strongest bitcoin price prediction:
2022 was a rough year for crypto. More than $1.3 trillion was wiped off the value of the market. And bitcoin, the world’s largest digital coin, saw its price slump more than 60%. But with 2023 now here, some market players have stuck their neck out with price calls for what could be another volatile year.
Prediction by Eric Robertson:
According to a report published by the bank’s Global Head of Research Eric Robertsen, Bitcoin slips down to about $5,000 that is about 70%. And this is one of the possible outcome when there is massive increase in interest rate and also in case of crypto exchange collapse.
Price prediction by Tim Draper:
On the other hand, an American venture capitalist, Billionaire Tim Draper is very much bullish in Bitcoin Prices. He is very optimistic. He says, Bitcoin will Blast to $250,000 in 2023. Bitcoin would need to rally 1,400% in order for it to trade at that level.
Price Prediction by Prof. Carol Alexander:
While Professor of Finance at Sussex University, Carol Alexander also has a bullish view. She predicted that price of Bitcoin will rise by $30,000 in the first half of this year 2023 and by the end of this year it will reach to $50,000.
Price Prediction by Mike McGlone:
Senior Commodity Strategist at Bloomberg and analyst Mike McGlone also had bullish view. He expected the price of Bitcoin will reach to $100,000 by year 2025. His own forecast is based on a simple supply and demand model. The analyst says the supply of the cryptocurrency is on the decline and demand is going up.
Price Prediction by Erik Voorhees:
The founder of the “ShapeShift” exchange, Erik Voorhees, expects the price of bitcoin to reach $40,000 by June. It would be about a 150% increase from the current price. However, he believes that there is a revolution going on regardless of whether there is a bull or bear market.
Price Prediction by Our Team:
We are also bullish in this market. We are expecting a good growth in the price of Bitcoin and other crypto coins.
According to our advanced technical analysis, we had also predicted the bitcoin price for future. The link is given below…..
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Note: Some reference are taken from CNBC also. reference….