• Crypto analyst CrediBULL predicts a bull case scenario for Bitcoin (BTC) and expects the price to hit $70,000 in 2023.
• Billionaire Paul Tudor Jones stated that he would continue to hold Bitcoin as a hedge against traditional markets.
• CrediBULL believes that the gap at $20,000 won’t be filled anytime soon and expects BTC to reach a new all-time high this year.
Bitcoin Price Predictions
Crypto analyst CrediBULL predicts a bullish outlook for Bitcoin (BTC) and believes it could reach $70,000 this year in 2023. Billionaire Paul Tudor Jones has also expressed his support towards Bitcoin by stating that he will continue to hold it as a hedge against traditional markets.
Unfilled Gap at $20k
CrediBULL believes that the liquidity gap at $20,000 won’t be filled anytime soon and instead expects BTC to break new all-time highs this year without any lengthy sideways action. He added that over 70 percent of all Bitcoins are concentrated in wallets which historically don’t start selling until new all-time highs are reached.
Paul Tudor Jones‘ Support
Notably, some of the biggest investors like Paul Tudor Jones have been backing Bitcoin as they believe it could provide better returns than traditional investments. In an interview with CNBC’s Squawk Box, Tudor Jones said that he will remain invested in Bitcoin despite recent market fluctuations.
Cautious Optimism
The crypto community is cautiously optimistic about BTC’s future prospects but there is still uncertainty surrounding its price trajectory from current levels. As such, investors should exercise caution when making decisions about their portfolios and take into account both short-term and long-term trends before investing in cryptocurrencies.
Conclusion
Overall, while there is optimism among crypto analysts regarding Bitcoin’s future prospects, investors should conduct their own research before investing and only risk funds they can afford to lose.