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Analysts' 2023 Bitcoin Price Forecast: Rebound to $250000 or Collapse to $5000
It is a understatement to say that 2022 is a difficult period for cryptocurrencies. After experiencing long-term price increases and investor joy, last year witnessed the arrival of a cryptocurrency winter, causing the price of Bitcoin to plummet, the company to go bankrupt, and wiping out over $1 trillion from the market, without mentioning the collapse of FTX
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Bitcoin BTC rebounded significantly from its 50 day moving average, recovering $28000
Bitcoin (BTC) prices have shrugged off concerns about sudden changes in long-term dormant wallets, as well as ongoing regulatory uncertainty surrounding Coinbase's lawsuit against the US Securities and Exchange Commission due to unclear encryption rules, and have rebounded strongly to a level of over $28000 for the first time in four days.This may be due to a surge in technical buying before the 50 day moving average of $27200, as well as recent support from a low point slightly above $27000
