• Crypto Market Analysis: Here’s What Can You Expect From the Crypto Markets In Q2 2023
• Bitcoin price expected to break the consolidation and surge high in Q2 2023
• BTC price might reach new highs close to $35,000 in H1 2023
Crypto Market Analysis in Q2 2023
The Q1 close of cryptocurrencies was pushing the Bitcoin prices above $29,000 and a step ahead toward $30,000. However, currently the price is consolidating within a narrow range displaying possibility of continuing with a consolidated trend in the coming days. According to past data, one can expect a fine upswing in Q2 with the Bitcoin price soaring above $30,000. Moreover, once it reaches crucial resistance close to $35,000 it may lead to notable upswing till end of H1 2023.
Breaking Consolidation
Bitcoin usually follows repetitive pattern from the past and has been following the same pattern finely. The last month’s breakout also carried same legacy and hence it is believed that BTC will print consecutive bullish monthly candles ahead. It is expected that after breaking out of consolidation period its price will surge high or display short-term bounce.
Price Action Pattern
The chart below shows similar price action as per previous movements of BTC which followed magnificently surging highs followed by significant drops reaching low points; however this was then followed by an upswing leading towards new highs further.
Regulatory Uncertainty
Recently Bittrex had to shut down their operations in USA due to regulatory uncertainty which has caused coinbase CLO (Chief Legal Officer) criticize SEC’s proposed crypto asset securities rule and Binance being investigated by CFTC(Commodity Futures Trading Commission), SEC (Securities & Exchange Commission), DOJ (Department of Justice) & IRS (Internal Revenue Service).
Conclusion
It can be concluded from this article that there is possibility for bitcoin’s prices to break consolidation period soon leading towards upsurge in prices higher than before while keeping regulatory uncertainty into consideration.