Bitcoin’s impressive 70% surge so far in 2023 has analysts betting the top cryptocurrency still has room to run this year. Some price predictions point to Bitcoin hitting $50,000 or even beyond fueled by bullish patterns playing out and mounting hype around a spot BTC exchange-traded fund (ETF) approval.
Keypoints
- Bitcoin’s price has surged over 70% so far in 2023, helped by a banking crisis and hopes for a spot BTC exchange-traded fund (ETF) approval in the US.
- A historic price fractal from 2020 suggests Bitcoin could see a breakout soon that leads to a price of $45,000-$50,000 by end of 2023.
- Standard Chartered also predicts Bitcoin reaching $50,000 by year’s end, arguing increased miner profitability will reduce selling pressure.
- One technical analysis pattern hints Bitcoin’s price could hit $32,000, up 12.75% from current levels, if the pattern plays out fully.
- Approval of spot Bitcoin ETFs could bring in $155 billion in new…
