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<li><strong>Crypto analyst CrediBULL predicts a bull case scenario for Bitcoin (BTC) and expects the price to hit $70,000 this year in 2023.</strong></li>
<li><strong>Billionaire Paul Tudor Jones stated that he would continue to hold Bitcoin in his portfolio, which serves as a hedge against the traditional market.</strong></li>
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<p>The world&#8217;s largest cryptocurrency Bitcoin (BTC) has delivered a pretty strong performance this year hitting highs above $30,000 levels. But over the last weekend, the BTC faced a partial retracement and some selling pressure.</p>
<p>As of press time, <a href="https://www.crypto-news-flash.com/bitcoins-rise-these-41-billion-dollar-nations-shun-usd-eye-btc-as-the-next-global-reserve-currency/" target="_blank" rel="noopener">Bitcoin </a>is trading at $27,232 with a market cap of $527 billion. The recent price action has left investors confused as to where is Bitcoin heading from the current levels. As the Bitcoin price continues to face some selling pressure and despite the recent rejection at $30,000, some crypto analysts believe that the BTC price could still break new highs this year.</p>
<div class="cryptoboxes" id="mcw-19649" data-realtime="on"><div class="mcw-chart mcw-chart-light" data-font = "Poppins" data-coin = "bitcoin" data-symbol = "BTC" data-currency = "USD" data-rate = "1.000268" data-type = "chart" data-view = "month" data-theme = "light" data-smooth = "true" data-areacolor = "" data-bgcolor = ""></div></div><p>CrediBULL Crypto, a pseudonymous crypto analyst on Twitter told his 340,000 followers that the liquidity gap might get filled for several other financial assets, however, it&#8217;s not a concrete rule. For Bitcoin, CrediBULL believes that the gap at $20,000 won&#8217;t be filled anytime soon. He <a href="https://twitter.com/CredibleCrypto/status/1657571153937072128" target="_blank" rel="nofollow noopener">wrote</a>:</p>
<blockquote><p>There’s a gap at 20k that a lot have been eyeing up and using as justification for a deeper pullback form current levels. If I’m right about my thesis for new ATH in 2023- that gap should go unfilled. If you were to ask me which comes first- 20k or 70k+, I’d say 70k+.</p></blockquote>
<p><img decoding="async" loading="lazy" class="size-full wp-image-279315 aligncenter" src="https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-scaled.jpeg" alt="" width="2560" height="1254" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-scaled.jpeg 2560w, https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-300x147.jpeg 300w, https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-1024x502.jpeg 1024w, https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-768x376.jpeg 768w, https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-1536x753.jpeg 1536w, https://www.crypto-news-flash.com/wp-content/uploads/2023/05/Bitcoin-Unfilled-Gap-2048x1004.jpeg 2048w" sizes="(max-width: 2560px) 100vw, 2560px" /></p>
<h3 id="new-all-time-highs-for-bitcoin">New All-Time Highs for Bitcoin</h3>
<p>CrediBULL noted that a direct move on the upside without any further consolidation is an unlikely scenario and will be more painful.</p>
<p>&#8220;Too convenient and easy to let everyone who got rinsed over the past six months reload their positions and happily ride to a new all-time high in time with the halving. Over 70 percent of all BTC in existence is concentrated in wallets that didn’t puke at the 3AC (Three Arrows Capital) or FTX collapses and that historically don’t start selling in any significant quantities until new all-time highs. No year-long sideways action, in my opinion. Straight to new all-time high this year,” he added.</p>
<p>On the other hand, some of the biggest investors like Paul Tudor Jones have been backing Bitcoin. In his recent interview with CNBC&#8217;s Squawk Box, Tudor Jones said that he will be sticking with his Bitcoin investments. He <a href="https://www.cnbc.com/2023/05/15/paul-tudor-jones-says-hes-going-to-keep-bitcoin-in-his-portfolio.html" target="_blank" rel="nofollow noopener">said</a>:</p>
<blockquote><p>From the beginning, I’ve always said I want to have a small allocation to it because it’s the only thing humans can’t adjust the supply in. So I’m sticking with it, and I’m going to always stick with it as a small diversification in my portfolio.</p></blockquote>
<p>However, he said that Bitcoin could face a major challenge in the United States since the entire regulatory apparatus is against it. Jones believes that Bitcoin serves as a strong inflationary hedge. However, he said that the Fed has gone overboard with its rate hikes and expects no further hikes from here onwards. Jones added that even at the current interest rate, inflation would come down and that could be a problem for Bitcoin.</p>
<p>Der Beitrag <a rel="nofollow" href="https://www.crypto-news-flash.com/bitcoin-popular-crypto-analyst-predicts-btc-will-reach-new-ath-of-100000-this-year/">Bitcoin: Popular Crypto Analyst Predicts BTC will Reach New ATH of $100,000 This Year</a> erschien zuerst auf <a rel="nofollow" href="https://www.crypto-news-flash.com">Crypto News Flash</a>.</p>

Bitcoin: Popular Crypto Analyst Predicts BTC will Reach New ATH of $100,000 This Year

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