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Bitcoin (BTC) Price Prediction 2023–2025, update 10th of August
Just what is Bitcoin, exactly?
Bitcoin is a digital currency that was invented in 2008 under the alias Satoshi Nakamoto. Bitcoin, unlike fiat currencies such as those issued by governments or banks, operates independently of any one governing body.
Bitcoin’s anonymity makes it attractive for use in everyday situations like shopping online.
Forecasting Bitcoin’s Value in 2023
Since January 2023, BTC price action has been generally bullish, with the creation of higher lows. A rising support trendline is being formed by Bitcoin’s recent upswing.
After breaking out of a range due to strong supply pressure, the Bitcoin price is presently retreating from the $30,000 level. But as the Bitcoin price approaches the long-awaited support trendline, a falling channel pattern has formed.
In addition, the intraday trading volume continues its downward trajectory, which is indicative of the bear phase’s underlying weakness. The RSI line’s positive divergence in the present price range lends credence to the idea of a sustained rally.
And 67.84% of Bitcoin holders are making money at the moment, according to on-chain research. However, just 3.03% of holders…
