The latest Bitcoin upswing has induced massive confidence among investors as well as bullish momentum among other tokens. The trend is expected to continue for some more time, assisting the price to mark beyond the interim resistance at $28,000 and further at $30,000. Further, the trend of the price rising above the 2023 highs and securing levels above the crucial resistance at $32,000 is also making huge rounds.
So can the BTC price maintain a healthy upswing in 2023? If yes, can this be considered the beginning of the next bull run?
The BTC price has rebounded from the interim lows below $16,000 and has been forming constant higher highs and lows since then. The price in the long term is believed to maintain a healthy upswing. But the trend may remain under the bearish influence until the end of H1 2024. A Popular analyst, Rager, believes that the Bitcoin bull run may begin in late 2024 and a new ATH may be formed in 2025.
The analyst considers $25,000 as the local bottom and rolls out his prediction. No matter that the bull run is not around the corner, the analyst believes the price will remain bullish for the next 1.5 years.
“If BTC $25K is the new local bottom, I’d like to see something like this play out over the next 1.5 years,
TLDR:
Uptrend over $30K
Pullback
Bitcoin halving front-run rally
Major pullback, last big dip before up-only
Bull market uptrend starts mid to late 2024
New highs 2025,”
Currently, the BTC price is appearing extremely strong and self-assured of the upcoming trend. The price is believed to regain $30,000 and further experience strong bearish actions. Therefore, until the bulls do not begin with a healthy upswing, the start of the bull run may not be validated.
The post appeared first on Coinpedia
