Crypto Analyst Predicts Beginning of Next Bitcoin Bull Run, Lays Out March 2023 Ethereum Forecast

The closely followed crypto analyst and host of the InvestAnswers YouTube channel is making forecasts for both Bitcoin (BTC) and Ethereum (ETH) in 2023.

In a new video update, the analyst says that he believes Bitcoin will ignite its next bull run around the second half of the year.

Buy physical gold and silver online

“Late 2023, or sometime after summer 2023, the Bitcoin bull run could begin again. No guarantees in this but, looking at everything that I know, we had a very, very bad year. Bitcoin is very beaten down. It doesn’t stay down forever. It is under massive accumulation. The supply is thinning on exchanges. Every single technical indicator you could look at says it’s a bottom. And people are educated now. They know what the halving is all about, and they know to front run it. So I believe in late 2023 there will be a Bitcoin bull run.”

Looking at Ethereum, the analyst says that the enabling of stake unlocking in March could encourage more entities, including institutions, to lock up their ETH, which may put buying pressure on the leading smart contract platform.

“We do have some stuff happening in March 2023. Stakers out there who stake their Ethereum who are currently receiving about 5% annual interest for committing their ETH to secure the chain.

But, withdrawals have not been enabled, but they will be enabled in March 2023. Enabling Beacon chain withdrawals… could give stakers more confidence in staking more. I think about 13% is currently staked of the total supply, but in the meantime, those who have been waiting a long time, like six to nine months or more to get their ETH back, they will sell, and this will cause a bit of sell pressure.

But I also do think it’ll also – after the sell pressure happens – it will bring about much more staking, even maybe from institutions who want to get some of that 5% for staking their ETH which will be a growing asset as well in the next bull run.”

I

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/GrandeDuc

The post Crypto Analyst Predicts Beginning of Next Bitcoin Bull Run, Lays Out March 2023 Ethereum Forecast appeared first on The Daily Hodl.

About the author

Why invest in physical gold and silver?
文 » A