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A reputable crypto analyst gives his prediction for Bitcoin by the end of the year. A crypto analyst has published a Bitcoin price forecast until the end of 2023. In this Pooyanmusic post, you will read about the future price of Bitcoin.
A crypto analyst has provided his prediction for the price of Bitcoin until the end of 2023. However, the end-of-year (EOY) price prediction is not the only interesting thing this analyst talks about.
Crypto analyst alias Titan of Crypto shared with X (ex-Twitter) his latest prediction for the price of Bitcoin. This analysis uses Ichi Moku’s perspective to analyze the Tenkan Cajun (TK) Death Crossing. This appears on the Bitcoin price chart.
The significance of this TK death crossover is what has appeared for the price of this digital asset in the past. According to Titan of Crypto, this exact death cross has been seen twice in the past two years. Each time, the result has been bearish for the price of Bitcoin.
According to his analysis, Bitcoin was down an average of 20% when the TK death cross appeared in June 2021 and January 2022. That doesn’t represent a good price right now. Therefore, another event could see the price of Bitcoin drop by about 20% from its low levels.
The analyst also points to a busy week in terms of economic announcements such as CPI and PPI. According to their results, it probably has an adverse effect on the digital currency market. According to this analyst, such a previously recorded decline could easily see the price drop to $20,300.
The cross of death in BTC chart
Despite the incredibly bearish outlook for Bitcoin’s price, especially in the short term, it’s not all doom and gloom, according to an analysis by Titan of Crypto. For example, the analyst does not expect the price of the digital asset to fall below its previously set low in 2022. This means that even if this analyst sees Bitcoin returning to $20,000, it will not reach its previous lows.
Additionally, the analyst also sees the cryptocurrency finishing 2023 on a high. In the same analysis, he mentions that he expects Bitcoin to cross $30,000 by the end of the year. “Overall, I believe Bitcoin is going up. And it is attracted by EOY from the level of 32 thousand dollars.
According to this prediction, even if Bitcoin falls to $20,000, the digital asset could rise by more than 30% before the end of the year. This analyst explains in the next tweet: “But this scenario has not been implemented yet. A lot of support needs to be broken before you can hope for a lower price for BTC. “
