The beginning of 2023 brings a different phase in the crypto market. Over the past few days, most crypto assets have regained their value. The bullish trend has led to renewed sentiment in the market as some positive predictions have emerged.
Ben Armstrong, a YouTuber known as BitBoy, predicted bullish trend for Bitcoin in a few weeks. Armstrong, the author of the new book “Catching Up To Crypto” took to Twitter to express his opinion on the future rise in the price of BTC.
Bitcoin Price Rally Triggers Bullish Sentiment
According to Armstrong, major crypto assets have sparked bullish sentiment in the crypto community with a recent uptrend. Finally, BTC broke the barrier and rose to the $18,000 level. On January 12th, the main token reached $19K during trading hours.
A review of the price history shows that BTC reached the area of $15K in November 2022. In particular, Bitcoin began to fluctuate between $16,000 and $17,000 in December 2022. But in this 2023, the main crypto asset showed impressive price movements.
By BitBoy post on Twitter, Bitcoin will gradually reach $25,000 or $30,000 this year. He thinks that BTC will get this new price rally in the next 10 to 15 weeks. Also, some people are bullish on trading with Bitcoin.
On January 11, Armstrong sent on the belief in the Bitcoin price explosion in 2023. However, the controversial YouTuber notes that the major cryptocurrency may not hit its all-time high (ATH) this year.
On January 12, Bitcoin briefly reached the $19,000 level before retreating to the $18K level. BTC’s recent price rally is likely due to risk sentiment associated with other markets.
At the time of writing, Bitcoin price is hovering around $20,627. This shows that the token has increased by 3.50% in 24 hours. Bitcoin’s market capitalization is $366.43 billion with an increase of 4.62% in the past day. Also, altcoin dominance is 40.26%.
Remember that in December 2022, Armstrong gave a forecast for Bitcoin. By BitBoy tweet, the end of 2023 will see BTC reach the $30,000 level. Also, he predicts that the token will finally reach a new all-time high (ATH) at the end of 2024, while a new bearish trend cycle will emerge in 2025. But now, analysts believe that BTC will reach the price mark in a few weeks.
Crypto Whale Continues Transactions In Bitcoin
With the recent BTC price rally, some crypto whales have resumed large transactions in BTC. Several on-chain data providers have recorded huge BTC transactions recently.
According to WhaleAlert, the unidentified whale moved 5,545 BTC tokens to another anonymous wallet. The coin is worth more than $104.3 million at current market prices. On January 12, 4,000 BTC tokens worth $72.51 million were moved from an unknown wallet to crypto exchange Huobi.
Furthermore, Santiment, an on-chain data company, emphasized whale transactions increase involving BTC.
📈 #Bitcoin it is on the verge of breaking the $19k resistance level for the first time since November 8. The whale is starting to attract interest and the odds will continue to rise, at $1M+ $BTC Transactions rebound to November 2022 levels. https://t.co/UuH8aFUmh3 pic.twitter.com/2oeIyi3xSV
– Santiment (@santimentfeed) January 12, 2023
The data provider claims that the average BTC whale transaction has exceeded 1,700 per day. This new average happened for the first time in the last two months.