Bitcoin Breaks $21K: Veteran Trader Predicts $25K by March

• Bitcoin price broke above $21,440 on major cryptocurrency exchanges for the first time since the FTX implosion.
• Veteran trader and markets analyst Peter Brandt has shared his prediction for Bitcoin price in 2023.
• Bitcoin is up more than 22% in the past seven days, with BTC currently showing resilience above the $20,000 support level.

Bitcoin price broke through the $21,440 mark on major cryptocurrency exchanges for the first time since the FTX implosion. This surge in the crypto market was driven largely by retail investors, as it mirrored the stock market’s Friday surge. This surge in Bitcoin’s price has been followed by a corresponding surge in other altcoins such as Ethereum, which has broken above $1,500, Solana, which has seen its value jump to highs of $24, and Dogecoin, which has risen to as high as $0.088.

The rise in crypto prices has been attributed to the US inflation rate slowing further in December, which suggests that the Federal Reserve may be altering its stance. Veteran trader and markets analyst Peter Brandt has also shared his prediction for Bitcoin price in 2023, highlighting the potential for Bitcoin to reach even higher prices.

Brandt has stated that if the market can consolidate above the psychological level of $20,000 then the potential for Bitcoin to go even higher is immense. Brandt has also predicted that Bitcoin could hit $25,000 by March of this year, suggesting that the bullish trend will continue.

The on-chain data also supports this narrative, as it indicates that the majority of the buying pressure is coming from retail investors rather than institutional investors. This suggests that the surge in Bitcoin’s price is driven primarily by speculation and optimism in the cryptocurrency market.

It remains to be seen if Bitcoin can hold on to its current levels, or if the price will eventually decline. However, the current bullish trend in the crypto market is undeniable, and investors are confident that Bitcoin can reach its all-time highs of $20,000 in the near future. With the right fundamentals, the cryptocurrency market could experience a rapid surge in prices over the next few months.