This Trader Says Unexpected Bitcoin Rally To Take Place In 2022, Predicts A Six-Figure BTC By 2023

Zinger Key Points
  • Bitcoin was trading at $21,591, up over 12% in the last seven days.
  • The analyst says investors in the space are very early. 

According to notable cryptocurrency analyst Credible Crypto, Bitcoin BTC/USD will reach a new ATH and a six-figure BTC by 2023. 

The analyst expects close to a 219% explosion in the price of Bitcoin in less than six months.

According to Credible, if the adoption of crypto technology is anything like that of the internet, then investors in the space are very early. He quotes an excerpt from a report by Wells Fargo that compares crypto adoption to the rise of the internet. 

Also Read: Crypto Analyst Who Correctly Predicted Bitcoin Would Retreat To $21K Now Has This New Alert

At the time of writing, Bitcoin was trading at $21,591, close to 13% more in the last seven days. 

Even if the current crypto market looks volatile and could suffer a further downturn, analysts believe that current Bitcoin price levels offer the kind of value for money not seen in years.

The director of global macro at asset manager Fidelity Investments Jurrien Timmer says, “Looking at Bitcoin’s network growth, it’s clear that the adoption curve is tracking the more asymptotic internet adoption curve, rather than the more exponential mobile phone curve. Per Metcalfe’s Law, slower network growth suggests a more modest price appreciation.”

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