Even as fears about restrictive measures by the US government rise, the first cryptocurrency Bitcoin has risen almost 50% in 2023. Furthermore, in the early hours of today, the price of Bitcoin had even reached the area of $25,000 before pulling back slightly around the $24,000 level.
At the time of reporting, the flagship coin is selling for $24,919 after a 0.40% rise in the last 24 hours and a 15.06% rise in the last week. Bitcoin’s immediate resistance is at $25,200 while support is positioned at the $24,800 level.
A new bull run for the price of Bitcoin
Meanwhile, a well-known cryptanalyst known as Dave the Wave is informing his Twitter followers that Bitcoin is about to see a massive rise. This is because the analyst is of the opinion that the cryptocurrency startup is mostly following its 2019 pattern, where it surged from a low of $4,000 to $14,000 in just a few months.
If his predictions turn out to be true, then according to his chart, the Bitcoin price could hit $50,000 in May. Also, as Dave discusses Bitcoin’s all-time high, he claims that BTC will hit ATH at $150,000 by 2025.
Next, the strategist claims that Bitcoin could see a correction around $25,000 before the coin moves towards $68,000 and hits $150,000.
The above statement indicates that the Bitcoin price is certainly pointing to a new bull run above $25,000. If BTC breaks above $25K, the next target will be the $26,000 and $27,000 area.
This post A new historical advance for the price of Bitcoin above this key level
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