Bitcoin: What To Expect In 2023

Dec. 30, 2022 3:37 PM ETBitcoin USD (BTC-USD)43 Comments


  • Bitcoin is staring at a historical death cross, which will set us up for new lows.
  • Bitcoin could find a bottom in the first half of the year and rally in the second half.
  • Bitcoin will die in 2023 only to, once again, come back to life.
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2023 - Champagne glasses and fireworks

Thesis Summary

Bitcoin (BTC-USD) started 2022 around $44,000 with most analysts believing that the mythical $100,000 would be broken in the ensuing months. Instead, Bitcoin sits today at just under $17,000, in the midst of a historically deep bear market.

Bitcoin weekly chart

Bitcoin weekly chart (TradingView)

Bitcoin Hash Ribbons

Bitcoin Hash Ribbons (TradingView)

Bitcoin price chart

Bitcoin price chart (TradingView)

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Disclosure: I/we have a beneficial long position in the shares of BTC-USD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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