The bulls and the bears are exerting intense pressure on the price of bitcoin as it hovers between $30,000 and $31,000 without going above either of these marks. As a prolonged compression could result in a significant explosion, the mounting tension surrounding the token is anticipated to decrease. While the rally's direction can be predicted based on the volume that is prevalent at the moment. However, given that the trend may continue to be consolidated for a few more weeks, no significant price movement is anticipated in 2023.
As the year comes to a close, the cryptocurrency markets typically develop a strong bullish momentum. This typically occurs when the market is not in the midst of a bear market or when bears have drained the market and prevented the price from falling below a specific threshold. Therefore, it is anticipated that the BTC price, which has been steadily rising since the start of the year, will continue to fluctuate within a nice range of highs and lows until the conclusion.
This might start a bull run, which might get stronger in 2024 and reach new highs. Additionally, some of the catalysts can help the rally continue and gain strength throughout the year.
2024 Bitcoin Halving 
The miner payouts for the popular cryptocurrency Bitcoin will be cut in half during an event called a halving in March or April 2024. Because there is a great probability that it would start a bull run, this event is regarded as one of the most crucial for the cryptocurrency markets. Less Bitcoin will be made available for use as a result of the miners receiving smaller payouts. This maintains the token's rarity and raises prices. The BTC price has a history of rebounding after each price halving and maintaining a sharp upward trend for the following 12 months to establish a new all-time high. Therefore, a similar price movement is anticipated following the fourth Bitcoin halving in 2024.
CrediBULLCrypto, a well-known cryptocurrency analyst, made the audacious prediction that Bitcoin will rocket towards the moon in 2023.
** “This Is Just the Beginning”**
CrediBULLCrypto predicts that this year will see a parabolic rise in the leading cryptocurrency, setting up Bitcoin for astronomical success.
The exact endpoint of this bull run is difficult for analysts to predict. But one thing is certain: It's anticipated to be a staggering sum under $300,000. The renowned crypto expert elaborated on his prediction in a fascinating chat with an interested Twitter user.
CrediBULLCrypto gave a positive response, indicating that the bull run will continue until 2024 in response to the user's question on whether Bitcoin price prediction for 2023 might rule out the prospect of further ascent into 2024.
By overcoming the obstacles given by the 50-, 100-, and 200-day Exponential Moving Averages (EMA), Bitcoin has been able to confirm its dominance and bullish trend in the cryptocurrency space and is currently hovering around $30,415. This resiliency on display provides a strong base for the impending breakout.
Approvals for Bitcoin ETF
Just a month prior, the SEC's lawsuit against the top two exchanges, Binance and Coinbase, had the crypto market in a deep bear market slump. In the short time that followed, major players in the market, including BlackRock, Fidelity Investments, ARK Investments, Invesco, WisdomTree, Bitwise Asset Management, and Valkyrie, applied for a position in the Bitcoin ETF, which contributed to a sharp increase. The filed ETFs, however, are still being processed and might be examined and approved in the upcoming days. According to expectations, the approvals might not come through before 2024, making them the main factor in the 2024 bull run.
2024 U.S. Presidential Elections
On November 5, 2024, the US will hold its presidential elections to choose a new President and Vice-President. Because the next price action depends on the outcome of the election, both the regular markets and the cryptocurrency markets remain incredibly unclear during critical events. Changes in policies, laws, and regulations could be favourable or unfavourable for the crypto space depending on the new government's makeup. As a result, the 2024 bull run may be significantly boosted by the results of the US Presidential elections.
Reference - https://coinpedia.org/price-prediction/bitcoin-price-prediction/
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