Star cryptocurrency got off to a head start heading into 2023 as its foreign currency surged in January. Still, Bitcoin is in a bear market, with many cryptocurrencies launching with massive caps. A flagship drop began just before the weekend, with the foreign currency falling below $23,000 yesterday.
As of this writing, Bitcoin is down 2.33% in the last 24 hours, and it has surged to $22,846.
According to Mike McGlone, senior macro strategist at Bloomberg, cryptocurrencies may have experienced their first recession. He also believes this phenomenon could result in property hitting new lows with increased volatility. McGlone claims this after comparing Bitcoin to the Nasdaq 100 index and claims that if BTC falls into a recession, Bitcoin could reach a low of $10,000.
Bitcoin Price at $10,000 in April?
Another crypto analyst, Michael van de Poppe, has taken the same line of thought, predicting a disappointing February for crypto. According to his new technique video on YouTube, Crypto may experience a recession, and if this occurs, Bitcoin will fall between $20,000 and $21,000.
Meanwhile, another strategist known as Darkish Defender sticks to his predictions and sets a bear target for Bitcoin. The analyst warns his 83,000 Twitter followers that when Bitcoin was trading around $16,000 in December 2022, he predicted it would hit between $19,000 and $24,000 in February.
Furthermore, the analyst claims that Bitcoin will reach $24,258 on February 1, 2023, as predicted. According to his claims, Bitcoin is currently buying and selling for around $22,000. As a result, Darkish Defender is now questioning whether Bitcoin will reach $10,000 in April, as he predicted.