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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

New All-Time Highs For Bitcoin In 2023? Analyst Shares Ultra Bullish Prediction

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Bitcoin

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The flagship cryptocurrency, Bitcoin, is up by over 100% year-to-date (YTD). Despite these impressive gains, there is still reason to believe that the crypto token’s resurgence isn’t done, as there could still be new highs before the year runs out based on analysis from prominent figures in the community. 

Bitcoin To Hit $69,000 This Year?

In a post shared on his X (formerly Twitter) platform, prominent crypto analyst Dave the Wave suggested that Bitcoin could surge to its previous highs this last quarter of the year. Although he didn’t state what highs exactly, the accompanying chart he shared in the post showed that he was hinting at Bitcoin’s all-time high of about $69,000. 

A run to previous #btc highs this last quarter is not unthinkable. pic.twitter.com/INesJPY9ov

— dave the wave🌊🌓 (@davthewave) November 9, 2023

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This isn’t the first time the crypto analyst has shared his belief that Bitcoin could hit $69,000 this year. In an earlier X post, he shared a similar chart, which put up a price target of $70,000 based on the speculation of “another mini-parabola frontrunning the halving.” 

It is not unusual for the market to pump significantly, as historical data suggests. Bitcoin’s price has increased significantly before and after every halving event. Before the most recent halving event, which took place in 2020, BTC rose by over 17% in the weeks leading up to it and saw a further 559% increase after the event. 

Bitcoin (BTC) is currently trading at $37.072. Chart: TradingView.com

However, many might argue that an all-time high (ATH) before the halving event, which takes place in April 2024, seems like a far reach, especially if the analyst is projecting that the new high will occur before this year runs out. 

Bitcoin To Hit New All-Time High Before April?

While a new all-time high before the year runs out seems like a big task, some prominent figures have, however, backed the crypto token to hit a new ATH before April. One of them happens to be Bitcoin OG and founder of Blockstream, Adam Back. Interestingly, Back predicted (back in August) that BTC will hit or even surpass $100,000 before March 31st, 2024. 

To show how confident he was of his assertion, the crypto founder went as far as placing a bet with another X user who disagreed with his position. They both agreed to wager a bet of 1 million satoshis, with the winner (depending on Bitcoin’s price by March 31, 2024) taking all. 

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The CEO of Jan3 and a fellow Bitcoiner, Samson Mow, had also agreed with Back in some way, as he believes that Bitcoin will also hit a new ATH pre-halving and not post. However, unlike Back, he didn’t mention any price target.

Featured image from Shutterstock

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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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