The crypto market fails to witness a Santa Claus rally as expected by crypto analysts and on-chain experts. However, the Bitcoin (BTC) price still holding above the $16.8K level, which is a good sign. Ethereum (ETH) price is also moving sideways above the $1,200 level.
Bitcoin Price To Move Towards $10K or $100K in 2023?
Cijena bitkoina trenutno se trguje na 16,839 dolara, prema CoinMarketCap. The 24-hour low and high are $16,755 and $16,908, respectively. Thus, the BTC price has increased nearly 1% in the last 24 hours and just 2% in a week.
According to on-chain analysis, the Bitcoin Exchange Reserves for All Exchanges data indicates the exchange reserves are still falling. Moreover, the 14-day and 30-day SMMA of Bitcoin reserves of crypto exchange shows that the 14-day SMMA moving above the 30-day SMMA has historically led to an increase in Bitcoin price.
Therefore, a bullish crossover of moving averages of exchange reserves can be a signal of the start of a bullish trend. Also, earlier on-chain reports indicated a pad prodajnog pritiska rudara i distribucija Bitcoina od kitova do investitora.
Popular crypto analysts such as Michael van de Poppe, Rekt Capital, and CredibleCrypto have predicted that Bitcoin price monthly close above or below the $16.9k-$17k range will determine a bullish or bearish trend in 2023. If the price closes below the level, Bitcoin price is likely to drop to $15,600. However, an above close will turn Bitcoin bullish.
In fact, analysts including CredibleCrypto fully agree with BitMEX co-founder Arthur Hayes that the Bitcoin price can hit $100K by the 2023 end or early 2024.
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Ethereum Price Stays Strong
Ethereum price is currently trading at $1,219. The 24-hour low and high are $1,203 and $1,222, respectively. Thus, the ETH price is also moving sideways, with a 1% rise in 24 hours and over 3% in a week.
According to on-chain data, the Ethereum Exchange Reserve for All Exchanges metric indicates the ETH reserves on centralizovane razmjene have declined by more than 30%. Thus, investors are accumulating and are more bullish on Ethereum.
Kripto analitičar Michael van de Poppe vjeruje anything above $1,170 would be a good price to buy for the long term. Ethereum price closing above the support will be bullish for Ethereum in 2023.
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Post Je li 10 dolara ili 100 dolara za cijenu bitkoina u 2023.? prvo se pojavio CoinGape.
Source: https://coingape.com/bitcoin-price-prediction-btc-10k-or-100k-in-2023/