Bitcoin price prediction: BTC will fall below $25,000, whales buy up Love Hate Inu

At the end of March 2023, a famous trader Michael Van de Poppe made an assumption that the BTC rate would drop to $25,000, provided that the coin could not stay above $27,000.

Bitcoin has repeatedly found itself in the risky area (near the $25 thousand mark) during the current period.

Key pressures on the value

The activity of regulators also intensely influenced the negative news background. The cryptocurrency industry in America was even threatened by the fact that all virtual coins, in addition to bitcoin, will be officially recognized as securities illegally issued into circulation.

One can notice the increased oversight of regulatory companies over the industry around the world. For example, in early March 2023, news spread on the Internet that British banking organizations decided to restrict their customers from buying digital coins. The situation is exacerbated by another sell-off of bitcoins by miners.

What are the predictions?

At the end of 2022, when the price of BTC fluctuated in the range of $16-17 thousand, many analysts made their bitcoin price forecast for 2023:

• The most positive forecast was made by venture capitalist T. Draper. In his opinion, VTS should scale up in price and grow to $250 thousand by the end of 2023. The expert believes that things will continue to move in a better direction in 2024 with the onset of halving. This is an event that takes place every four years. Its essence is that the reward for mining the main coin is halved.
• Э. Robertsen, the manager of Standard Chartered Corporation, on the contrary, is confident that the price of Bitcoin in 2023 will fall to $5 thousand. The assumptions of investor M. Mobius are slightly more optimistic. According to his forecast, the price of the coin should fall only to $10 thousand.
• At the same time, Professor Carol Alexander of the University of Sussex also expressed her opinion. According to her forecast, the cryptocurrency Bitcoin will be able to reach $30 thousand in the first quarter of the year, and in the third or fourth quarter will be able to rise to $50 thousand at the expense of whales. This is the name given to investors who have enough VTS on hand to have a direct impact on the market.

Note that it is the latter prediction converges with the current reality. At the time of writing, the coin is worth $30.1 thousand.

When Bitcoin will go up?

It is impossible not to mention the relationship between the value of BTC and its realization price. Realization price is the average purchase price or the basic market value. When it falls below a given level, the holder of the coin suffers losses.

During a bull market, this level becomes support. But with the arrival of a bear market, the opposite happens. The set level provides resistance to the asset.

Not so long ago, bitcoin successfully rebounded from it. At the same time, the value of the asset quickly gained upward momentum, which means that very soon the coin should rise in price.

In conclusion

According to the forecasts of some analysts, already in the coming months, VTS should not only rise in value, but also strengthen its positions. However, we should not forget about the fickleness of the cryptocurrency market. Only one thing is clear: only time will tell whether the positive forecast of the bitcoin exchange rate from experts was justified.