"Who knows, maybe BTC has the potential to break through $65,000 in mid-2023."
Veteran trader and leading analyst Peter Brandt gave his prediction about the mother of all cryptocurrencies Bitcoin (BTC) after its price managed to break the $23,765 level in the last 24 hours after hovering in the $23,000 zone for a long time.
The Federal Reserve (Fed) of the United States (US) which is about to announce the results of this week's monetary policy meeting about the increase in interest rates is also expected to have another impact on BTC.
Likewise, technology giants such as Apple, Amazon and Google will present their fourth quarter 2022 earnings reports.
However, Brandt thinks that the price of the digital asset can slip again and this is the reason why most investors do not buy it again until the price of BTC is at its lowest level.
Even so, he is confident that the price of BTC will be able to soar past $65,000 in the middle of 2023 after the digital asset breaks the $25,000 zone and declines to $19,000.
While Crypto analyst Michael van de Poppe and Credible Crypto also believe that the digital asset will go down first before its price rises above $25,000.
In the meantime, the latest jobs and inflation data saw rate hikes lower even after investors made predictions about whether the Fed would hike another 25 basis points or 50 basis points.
It is also reported that the price of BTC will plummet if the US Dollar Index (DXY) sees a rise, where so far its movement is still volatile ahead of the Fed's rate hike decision.
