{"id":411960,"date":"2023-06-26T14:03:23","date_gmt":"2023-06-26T14:03:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=411960"},"modified":"2023-06-26T17:21:19","modified_gmt":"2023-06-26T17:21:19","slug":"bitcoin-price-prediction-will-btc-hit-100000-in-2023-expert-analysis-and-forecast","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-will-btc-hit-100000-in-2023-expert-analysis-and-forecast","title":{"rendered":"Is it Too Late to Buy Bitcoin? Bitcoin Price Pumps to $30k, While Wall Street Memes Hits $10 Million"},"content":{"rendered":"

It has now been around 10 days since Bitcoin interrupted its series of price drops, replacing them with a new bull run. A series of price surges has taken the asset to $31k as of late Friday, June 23rd. The coin reached a high point of $31,389 before correcting back to a support at $30,500.<\/p>\n

After that, this support managed to hold BTC from going further down throughout the weekend.<\/p>\n

The price made several attempts to go back to $31k, although only one of them was successful. Even so, the price was rejected as soon as the coin reached this height.<\/p>\n

With Monday arriving, Bitcoin broke the support level at $30.5k, sinking to $30.1k, which has served as a support ever since. The coin’s new resistance ended up being at $30,550, while the price at the time of writing sits at $30,325.<\/p>\n

Some experts have suggested that Bitcoin has hit the roof by climbing to the $30k-$31k region and that the price action has stalled as a result.<\/p>\n

The buyers are slowly losing their grip on the price, which is opening up an opportunity for the sellers to take over.<\/p>\n

However, the same analysts claim that this is unlikely to happen in the short term, as the bulls still have some strength. If the price doesn’t drop below $29,500, the bulls can still maintain that control.<\/p>\n

\"Chart<\/p>\n

As a result, the price could yet go up to $32k, but possibly not higher than that.<\/p>\n

Another analyst suggested that Bitcoin could even climb to $50k per coin at some point in the near future. While this would still be far below the coin’s all-time high, it would also mark the highest price in the last two years.<\/p>\n

\"Chart<\/p>\n

The most optimistic analysts and investors are questioning whether Bitcoin can realistically hit $100,000. While some argue that this is also possible, others believe that it is still too early for that.<\/p>\n

Investors sound the world are sure that it will likely happen eventually. However, many believe that it will happen anywhere between 6 and 12 months after the next halving, which is expected in 2024.<\/p>\n

Two reasons why Bitcoin could grow<\/h2>\n

According to recent Greed and Fear Index data, Bitcoin has scored 55, suggesting that the market sentiment is favoring Greed, although it is very slightly above neutral.<\/p>\n

Glassnode believes that Bitcoin is still in the transition period, still trying to leave the bear market that controlled the industry throughout 2022 and re-enter the bullish part of the cycle.<\/p>\n

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Transition periods tend to see prices bounded between the Realized Price 🟠, and the Realized Price + 0.5 standard deviation band 🔵. Since setting each cycle low, the following proportion of trading days have been between these boundaries:<\/p>\n

2012-13 Cycle = 79%
2015-17 Cycle =… pic.twitter.com\/0Pq7lMNLZK<\/a><\/p>\n

— glassnode (@glassnode) June 24, 2023<\/a><\/p><\/blockquote>\n