Bitcoin is currently experiencing a good phase again. After the price had to accept a stronger drop a week ago, the cryptocurrency rose sharply over the last 7 days (+13%). Although we could still face a crash, Bitcoin price should rise sharply in the medium term. What are the reasons for such an increase? Will Bitcoin reach 50K again?
When will Bitcoin reach 50K again?
The Bitcoin price surpassed an important mark again a few days ago at $КСНУМКС. This puts the cryptocurrency back as strong as it was last time in the second quarter of 2022. That could be halfway to a new high in 2023. The $50,000 is a price target that is realistic for this year.
We could see this price again in the middle of the year. The end of the second quarter or the beginning of the third quarter of 2023 seem realistic. Even if we see another crash, a spike to that level would still be possible this summer.
3 Reasons pushing Bitcoin to reach 50K this year?
1. The year 2019 might be repeating
In order to be able to predict the development of prices in the crypto market in the medium and long term, we can always make historical comparisons. This comparison makes sense if we go back 4 years and look at 2019.
Source: https://cryptoticker.io/en/3-reasons-why-bitcoin-reaching-50000-in-2023-is-possible/