Crypto Bull Run Prediction 2023
What’s about Crypto Bull Run Prediction 2023? On the last day the price of Bitcoin ( BTC ) presented a drop of approximately 3%, the value of the main cryptocurrency in the world began in 2023 with an increase of almost 40% and currently exceeds USD 23,500.
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In this bullish context, an analysis by the company Glassnode revealed what could happen now with the BTC and caught the attention of digital currency investors.
WHAT WILL HAPPEN TO BITCOIN IN THE NEXT FEW DAYS?
The company specializing in the analysis of digital assets Glassnode has indicated that the value of the queen cryptocurrency could once again present a significant increase due to the data provided by the indicator known as the Puell Multiple .
This indicator is calculated by dividing the total dollar value of bitcoins issued daily by the average number of BTCs that were issued over the previous 365 days.
If the result is below 1, “it usually points to the lows within a market cycle “, while high levels should indicate the tops of the cycle,
According to the firm’s data, the Puell Multiple that measures the reward of miners would just reach its highest level in the last 13 months. On its official Twitter account, the company explained that said index stood at 1,041 for the first time since January 2022.
This could mean the beginning of a ” new bull run ” that will lead Bitcoin to new increases, the aforementioned medium detailed.
What do traders think about Crypto Bull Run Prediction?
Finally, it is worth mentioning that the cryptocurrency specialist known as Tony Crypto assured that he continues to be “optimistic” and that he believes that Bitcoin will remain ” above USD 23,400 “. “There is no need to panic right now,” he expressed on his social media.
On the other hand, the trader known as the Great Wizard expressed that the BTC could go down in the following days and break with the consolidation line that it had been showing on the rise.
