Bitcoin analysts doubt BTC price rally as $23K target gains popularity

“However, it is challenging to see that the area exchange led the price increase when the BTC cost increased the other day. Source: CryptoQuant”Many resemblances” to Bitcoin rate all-time highEqually conservative on the long-lasting outlook was popular trader and expert Rekt Capital.Related: GBTC Bitcoin discount rate may be gone by 2024 as share cost gains 17%In his newest YouTube update, Rekt Capital recommended that BTC/USD may be printing a copycat move to that seen in 2021 around its current all-time high.While no brand-new BTC cost peak is anticipated now, the recent tops around $31,000 on the weekly chart and subsequent breakdown are reminiscent of Bitcoins performance going into the 2022 bear market.”Thats the level that we could see rate rebound from,” he added.This article does not contain financial investment guidance or suggestions.

“However, it is challenging to see that the spot exchange led the price increase when the BTC price rose the other day. Source: CryptoQuant”Many resemblances” to Bitcoin rate all-time highEqually conservative on the long-term outlook was popular trader and analyst Rekt Capital.Related: GBTC Bitcoin discount may be gone by 2024 as share price gains 17%In his most current YouTube update, Rekt Capital recommended that BTC/USD might be printing a copycat move to that seen in 2021 around its present all-time high.While no new BTC price peak is expected now, the current tops around $31,000 on the weekly chart and subsequent breakdown are reminiscent of Bitcoins efficiency going into the 2022 bear market.”Thats the level that we might see rate rebound from,” he added.This article does not contain financial investment guidance or recommendations.