A pseudonymous crypto analyst who predicted the end of the 2021 bull market accurately, forecasted new lows for Bitcoin (CRYPTO: BTC) in 2023.
What Happened: Analyst ‘Pentoshi’ told his 660,000 followers in December 2022 that the $12,000-mark will be the lowest point for Bitcoin in 2023.
However, BTC will not have any new lows until the first quarter of 2023, according to the analyst.
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These would be the most obvious extremes ranges that I think we can cover in 2023 for $btc. Obviously a wide range for auch a large amount of time. But the areas stick out the most
— Pentoshi 🐧 (@Pentosh1) December 8, 2022
No new lows until Q1-2 2023 Imo. Those looking for them this year unlikely to get them so quickly pic.twitter.com/8UNzVclUMU
In response to a trader asking about what could induce Bitcoin to decrease another 20% below its "FTX lows" of $15.5k, 'Pentoshi' asserted, “You don’t even need a black swan..."
Time will tell. As a trader Id be open minded. You don’t even need a black swan imo
— Pentoshi 🐧 (@Pentosh1) December 8, 2022
Price Action: At the time of writing, BTC was trading at $28,931.99, up 0.5% in the past 24 hours, according to Benzinga Pro data.
This story was originally published on Dec. 9, 2022.
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