When Will Bitcoin Spike in Price? Here’s Your Answer

Vinod Dsouza
Bitcoin BTC
Source: Pexels

Bitcoin dipped below the $39,000 mark yesterday dragging the entire cryptocurrency market down along with it. The leading crypto is trading in the green today but at a conservative razor-thin margin of +1.5%. BTC is showing no signs of volatility and is expected to dip anytime soon and could go below the $38,000 mark. The overall market is yet to be stabilized and turbulence like yesterday’s crash is now a common occurrence. The million-dollar question on everyone’s mind now is- When will Bitcoin shoot up in price?

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When Will Bitcoin See A Spike in Price?

Popular crypto analyst ‘CredibleCrypto‘ answered the million-dollar question predicting that Bitcoin will see a spike in price in 2023. He predicted to his 328,200 followers on Twitter that Bitcoin is now in a corrective phase before it skyrockets to $100,000 in 2023.

Credible is among the analysts who also believe that Bitcoin is headed towards the $100,000 direction next year. The analyst shared BTC’s chart suggesting Bitcoin’s market structure remains bullish as it continues to print higher highs and higher lows.

Source: Twitter / CredibleCrypto

He revealed that Bitcoin’s current market performance is “designed to shake” investors out and reward those who hold on. “Mid-cycle corrections are designed to shake you out, and they’re quite effective.”

The expert walked down a memory line explaining how the market ‘shook out’ investors when BTC was below $10K. “Just ask the guys who sold BTC under $10k during the March capitulation event before BTC ran 1,500%, patience. Structure remains intact. It’s really quite simple.”

However, Credible warned that Bitcoin could see a pullback in the coming days and reach $36,400 levels.

“Looking for a repeat of what we saw in GREEN here in ORANGE. That is a sweep of unswept lows into demand and then a reversal. We have a high timeframe bullish divergence I mentioned previously that would get invalidated on a high timeframe close below $36k, so I don’t want to see us down there for long. BTC,” he tweeted.

At press time, Bitcoin was trading at $39,339 and is up +1.22% in the 24-hours day trade. The top crypto is trading on the backfoot this year showing no signs of phenomenal growth in the indices. The market is expected to remain stagnant as the global financial condition is currently in turmoil.