Post
Topic
Board Speculation
Re: $35,000-$37,000 for Bitcoin in 2023 as my peaking barrier, is breakout feasible?
by
posi
on 01/05/2023, 03:19:24 UTC
Your instinct is probably based on past events. 37k is a little over half of past the 69k high. Many are comparing the current year to 2019 where the price rose slightly above half of the previous cycle. I also think 2023 is similar in scenario to 2019. If so, the price should just hit 35-37k this year and then fall again before the next halving.

I also see the 2019 scenario gradually repeating itself. But my prediction is that bitcoin could hit $50k this year and then plummet below $20k. All in all, this is just a fun prediction, and I didn't focus on it and didn't expect it to turn out that way. Because history may still be repeating itself, but that doesn't mean it will repeat itself in detail, things will be a little different.
I accumulate bitcoin monthly, and I am not too concerned about bitcoin price in the short term, even if bitcoin goes up to $50k, I will accumulate as it is still below my sell target.