The Bitcoin price broke through the $29,000 mark for the first time in 2023. This could mean that the price explosion above the $30,000 mark is imminent and the next rally can begin. How likely is it that Bitcoin breaks above $30,000 or even towards $35,000?
How has the Bitcoin price moved in the last few days?
The Bitcoin price has continued to move sideways for the past few days. This sideways movement has now existed for 2 to 3 weeks and the Bitcoin price has stabilized around the $28,000 mark. Bitcoin tried several times to break the resistance at $28,000.
On Monday evening, the Bitcoin price managed to rise above the $29,000 mark for the first time. This could be the expected breakout above-said level that will ultimately take bitcoin above $30,000. After a long sideways movement, the probability of a strong upswing or downswing increases.
Will Bitcoin break $30,000 higher?
The move above $29,000 could set the stage for the next bull run. We have predicted a surge to over $30,000 in the past few days. This case could now occur . Bitcoin was thus able to sustainably rise above this mark for the first time in 2023 and for the first time since mid-June 2022.
In the coming hours and days, we could see the rapid surge above the $30,000 level. It would even be possible that the Bitcoin price could quickly rise towards $ 35,000.
Will Bitcoin price increase in Q2 of 2023?
The sideways movement of the past few weeks was understandable given the massive gains following the US bank crashes. The Bitcoin course needed a breather. But the momentum of the cryptocurrency is still strong and could now bring the price back above $30,000 for the first time in months.
We have already mentioned in our Bitcoin forecast that the second quarter of 2023 could be very bullish. This is also indicated by the course of the year 2019, in which the Bitcoin price also rose sharply in these months. This could now be repeated in the new cycle in 2023, four years later.