TL;DR

Bitcoin’s Year-End Outlook: Crypto analysts anticipate Bitcoin could potentially reach around $40,000 by year’s end, following a recent retracement from its yearly high.
Predictions by EGRAG CRYPTO: Twitter analyst EGRAG CRYPTO foresees a possible rise to $41,000, but also a potential drop below $32,000 before reaching this level.
KALEO’s Viewpoint: Analyst KALEO predicts Bitcoin might hit $40,000 by December, possibly after correcting to around $34,000.

$41K Before New Year’s Eve?

The price of Bitcoin (BTC) has recently slightly retraced from its yearly high of almost $38,000 observed in mid-November. However, some cryptocurrency analysts think the asset’s valuation could be on the verge of hitting a new peak before the end of the year.

One example is the X (Twitter) user EGRAG CRYPTO. They analyzed certain resistance levels to estimate that BTC might soar to around $41,000 sometime next month. 

“Presently, BTC’s rebound from Yellow 1 might propel it to 41K or sustain its gradual climb, causing alts to undergo downward pressure,” the analyst claimed.

On the other hand, EGRAG CRYPTO assumed that Bitcoin could fall below $32,000 before surpassing the $40,000 coveted level. 

“Personally, I hope BTC retests 31.7K before moving forward, it will be healthier in the long term,” they concluded.

KALEO Shares the Same Stance

Another crypto analyst who believes BTC might rise to $40K by the end of December is the X user KALEO. Nonetheless, they alerted that the primary digital asset could experience a correction to around $34,000 before soaring to the aforementioned peak.

Those curious to observe the top five BTC price predictions coming from prominent figures could take a look at our dedicated video below:

The post Could Bitcoin (BTC) Finish 2023 Above $40K? This Analyst Chips in appeared first on CryptoPotato.

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Filed under: Bitcoin - @ November 22, 2023 10:24 am