"It might go up, it might not, investors need to be ready anyway."
After almost a month of slippage, the mother of all cryptocurrencies Bitcoin (BTC) finally saw a surge break through the $17,000 price following a strong performance in the United States (US) stock market at the end of last week.
Even so, the price still recorded the lowest zone compared to its previous high of $18,395.
As the number of investors dwindled, most investors reportedly suffered some losses when selling their BTC holdings.
This happened because investors were found to be rushing to sell their digital assets during the FTX crisis which caused the crypto market to suffer continuously.
Comment from renowned crypto analyst Sulivan, BTC is likely to see significant selling again if the price is able to break through to the $20,000 to $22,000 level.
He added that the price increase will happen this week if the US CPI statistics show positive results.
However, it should be noted that BTC can plunge more drastically in 2023 when the US and other countries face unfavorable macroeconomic conditions and a prolonged recession.
According to CryptoGodJohn, crypto analysts and traders think that BTC has the potential to climb to the $20,000 price level after successfully passing $17,600 but if it fails the digital asset will drop to $15,500.
