Investors and other cryptocurrency users are very pleased with the market, which has been completely green for the last ten days. It's incredible to see Bitcoin make such a stunning comeback, reaching prices of $20000 and higher. The rise of Bitcoin from $16500 to $20000 has been spectacular, with a gain of more than 15% in a short period of time.

Bitcoin has the potential to grow faster in the future.

Bitcoin is one of the world's most powerful currencies, capable of skyrocketing in value. This coin is known as the king of cryptocurrency, and it has the potential to make you the king as well. As I mentioned in previous posts, the beginning of 2023 will be a critical time for all investors, and the market will make a quick move, which is exactly what happened.

Bitcoin is becoming more popular, and many investors are returning to cryptocurrency investment. Following the release of the US economic results and CPI data, the market reacts quickly and positively. We have seen that the prices of all goods have been reduced, and the inflation rate has been brought under control.

We've noticed a significant increase in market cap and volume over the last week. Indicating that investors have returned to the cryptocurrency market, abandoning other interest markets. In the coming days, the market will show even more potential, and we may see some more good volume as well as an increase in market capitalization.

We were almost 3 months at the $16k to $17K level, and there was a constant battle between bulls and bears. But, in the end, the bulls triumph over the bear, paving the way for a higher high. Amazingly, billions of dollars have been liquidated by those who have gone short. We have now reached the $20K level, and bulls are currently ruling.

$20000 is critical for the confirmation of a bull run.

$20000 is another important level, like the $16500 level, for the bulls to confirm. We may face some resistance at this point, but increasing volume and capitalization will help us overcome it. I am more confident that BTC will cross the $20K level and make its way to $24K, which will serve as the confirmation level for the bull run.

People are still perplexed about this upward movement, with some believing that it is a fake pump that will snare the bulls. However, I do not believe it is a forgery because volume and cap have increased significantly, indicating real buying. A fake pump will only allow you to move 5 to 10% of your weight, but this is more than 15% and at a good volume.

However, there is a possibility of a correction following this massive run; the price may fall to $19K, but will recover because bulls are stronger right now. Profit taking may occur at this point, but those who missed the rally will see this as an opportunity and will repurchase at the support level. Bitcoin will continue to test its resistance and support levels.

Other cryptocurrencies will undoubtedly follow Bitcoin's success after it. We can observe that some altcoins, like SAND, MATIC, ETH, RUNE, and KDA, have already experienced a price increase. Additionally, I noticed that the volume of the Hive coin is increasing and is currently at $1.3M.

Every time the volume in HIVE grows, a massive pump is also visible. Investors in HIVE, in my opinion, are also preparing for the bull run. Hive will have its best year ever this year, and there is a greater chance that the price will rise above $1. The HIVE coin will benefit greatly from this BTC rally in reaching its peak price in 2023.

Overall, seeing the price of BTC above $20000 is good news for crypto investors. A good year for crypto is on the way, so fasten your seat belts and prepare to soar through the sky. I hope you enjoy the post, and if you do, please leave feedback in the comments section so that the next post will be even better. Thank you for sticking with me all the way to the end.

IMAGES AND GIF TAKEN FROM CANVA, EDITED IN CANVA

REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.

Posted Using LeoFinance ^Beta