Most crypto assets have seen price increases over the past few days. The market has experienced a shift in attitude due to the bullish trend, which the emergence of various positive expectations has fueled.
A well-known YouTube personality named BitBoy, Ben Armstrong forecasted (1) a positive trend for bitcoin over the next few weeks. On Twitter, Armstrong recently shared his thoughts on the potential increase in the value of bitcoin in the future.
The Recent Rally in Bitcoin's Price Ignites Bullish Optimism
According to Armstrong, the principal crypto currency asset's most recent upward trend has prompted an optimistic attitude among crypto currency community members.
According to an examination of the price history, Bitcoin (BTC) reached $15,000 in November of 2022. In December 2022, Bitcoin's price fluctuated between $16,000 and $17,000. This fact is notable; however, the principal crypto asset has exhibited excellent price movement throughout 2023.
According to a tweet that BitBoy made on Twitter, the bitcoin price is expected to reach $25,000 or $30,000 gradually. According to his estimation, Bitcoin's price would reach this new all-time high within ten to fifteen weeks. Additionally, many investors are taking a bullish stance on their Bitcoin trades.
On January 11, Armstrong published an article discussing his expectation that the price of Bitcoin will skyrocket in 2023. On the other hand, the controversial Youtuber claimed that the most popular crypto currency might not achieve a new all-time high (ATH) during this calendar year.
On January 12, Bitcoin made a brief and insignificant touch above the $19,000 barrier before retreating to the $18,000 level. It seems possible that the risk-on emotions connected with other markets caused the recent price increase in bitcoin.
As this article is being written, the price of a single Bitcoin is $20,696. The total value of Bitcoin's market cap has increased by 4.62% in the last day, reaching around $366.43 billion. Additionally, it holds a domination of 40.26% over altcoins.
You may recall that Armstrong projected Bitcoin back in December of 2022. The threshold of $30,000 in BTC value could be seen by the end of 2023, according to a tweet from BitBoy.
In addition, he forecast that the token would achieve a new all-time high (ATH) by the end of 2024 while simultaneously predicting that a new cycle of bearish trend would begin in 2025. But current market sentiment suggests that Bitcoin's price will cross the threshold within the next several weeks.
The Crypto Whales Have Restarted Their Bitcoin Transactions
Because of the recent surge in the price of Bitcoin, several crypto currency whales have resumed doing huge transactions in Bitcoin. Recently, a few of the on-chain data sources have recorded significant Bitcoin transactions.
According to the data provided by WhaleAlert, an unidentified whale transferred (2) 5,545 BTC coins to some other anonymous wallet. At the prices prevailing on the market, the value of the coins is over $104.3 million. On January 12, 4,000 BTC tokens with a value of $72.51 million were transferred from an unidentified account to the Huobi crypto currency market.