Bitcoin

With the successful breaking of an important psychological level at $30,000, Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) has met the expectations of <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> analysts who have earlier predicted that the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset could make such a movement, triggering more optimism that a <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a> continuation is in store.Indeed, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> was at press time changing hands at the price of $30,132 for the first time since June 2022, recording a 6.30% increase on the day and adding up to the 8.33% gain over the previous week, as well as growing 46.83% on its monthly chart, according to the data retrieved on April 11.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/8449d75271144e7ca2da80298ed3f24f.png" />Bitcoin 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a><h2 id="header-0">Predictions come true</h2>Notably, one week before this breakout, popular <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analyst Moustache had noticed a “good sign,” observing that Bitcoin had “another weekly close over the sampling period in the Gaussian Channel” and stating that $30,000 or more was “<a href="https://finbold.com/bitcoins-next-target-30000-within-reach-as-support-forms/" rel="noopener noreferrer nofollow">only a matter of time</a>.”Just before the most recent breakout, on April 10, Moustache had again <a href="https://twitter.com/el_crypto_prof/status/1645418315546869760" rel="noopener noreferrer nofollow">confirmed</a> this analysis, arguing that Bitcoin’s activities at the time looked “very much like consolidation before more upside,” seeing “30k&#43; for BTC as long as the black line holds.”<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e79d187e8c7549dd99d7abb5d47e2e7f.jpg" />Bitcoin price action analysis. Source: <a href="https://twitter.com/el_crypto_prof/status/1645418315546869760" rel="noopener noreferrer nofollow">Moustache</a>Another crypto market expert, CryptoYoddha, had also highlighted the $30,000 area by the end of April, as well as a continuation to $37,000 in May and further toward $57,000 as the year’s end approaches, though possibly interrupted by several turns to the downside, as Finbold earlier reported.More recently, on April 7, CryptoYoddha had made an educated guess that a break above $35,000 is possible <a href="https://finbold.com/will-easter-trigger-a-bitcoin-price-surge-after-weeks-of-stability/" rel="noopener noreferrer nofollow">after weeks of price stability</a>, but without excluding the possibility of a retest and bounce to play into the “ideal” scenario demonstrated around Easter weekends every few years.<h2 id="header-1">What’s next?</h2>Elsewhere, Stockmoney Lizards <a href="https://twitter.com/StockmoneyL/status/1645668797091594246" rel="noopener noreferrer nofollow">took note</a> of the recent breakout, comparing Bitcon’s current price action with that from 2019, when the maiden digital asset skyrocketed as much as 150% after breaking the ascending <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> line in May, suggesting that history could repeat itself and the bull run could continue to up to $45,000 – $47,000.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1437ab5ac98546a0b980a9d54449cda4.png" />Bitcoin price action in 2019 vs. 2023. Source: <a href="https://twitter.com/StockmoneyL/status/1645668797091594246" rel="noopener noreferrer nofollow">Stockmoney Lizards</a>Interestingly, the same analyst had earlier made another comparison between the movements of Bitcoin in 2021-2023 to those in the period 2017-2022, suggesting there was a strong chance of it <a href="https://finbold.com/bitcoins-monthly-chart-signals-ultra-bullish-momentum-47000-in-sight/" rel="noopener noreferrer nofollow">advancing toward $47,000</a> in the following months.Considering that the <a href="https://finbold.com/bitcoin-adoption-skyrockets-nearly-a-million-addresses-now-hold-1-btc/" rel="noopener noreferrer nofollow">adoption of Bitcoin has skyrocketed</a> recently, nearing 1 million holders of at least one BTC and that Bitcoin had <a href="https://finbold.com/bitcoin-vs-indexes-q1-2023/" rel="noopener noreferrer nofollow">outperformed the top five major indexes</a> by 170% in the first quarter of 2023, it seems that the odds are strongly in its favor.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Bitcoin blasts through $30k barrier; Experts predict what’s next for BTC

Table of Contents

Finbold

Other articles published on Apr 13, 2023

Bitcoin Mining Firm Bitdeer to Go Public in $4B SPAC Deal

Web3 Antivirus 0.6: Fair NFT Prices, Easier Listing & Site Verification, Automated Conversion

BoE’s Bailey: Banks Shouldn’t Overlook Commercial Digital Money

Bitcoin Price Analysis: Blasts to 30584 - 13 April 2023

Leatherback is giving businesses across the world a chance to own international bank accounts

Top Cryptocurrencies for April 2023 – Cardano (ADA), Shiba Inu (SHIB) and Collateral Network (COLT)

Join our free newsletter for daily crypto updates!