As of today, Bitcoin has been one of the best performing assets across all assets, appreciating 72.5% year-to-date. It started the year at $16,530, and as of writing this, Bitcoin price has been bouncing sideways between $28,000 and $30,000 for close to 5 weeks now.
In fact, the King of crypto has managed to close out all 4 months of the year in the green, an impressive feat considering the uncertainties and financial turmoil the macro economy is currently facing.
We’re not sure how the month of May will pan out, but Jerome Powell has yet again raised interest rates, now the 10th time in a row. Even against the backdrop of the banking crisis, he has raised rates by 25 basis points.
Will we see Bitcoin put up another green candle by the end of the month, making it 5 in a row?
Given that we’re going into a year before the next Bitcoin halving (which has historically been a significant indicator of a new bull cycle), will we see some front running, and a early innings of the next cycle?
Now that we’re 5 months into the year, let me put in a prediction, that we will end 2023 with the Bitcoin price at… $58,260. this will bring us into the new year breaking new all time highs right at the halving.
There it is. My prediction for 31 Dec 2023. What do you think?