A widely followed crypto analyst is predicting an end to the Bitcoin (BTC) bear market with a massive rally. Pseudonymous crypto trader Rekt Capital tells their 330,600 Twitter followers that Bitcoin is likely to surge by more than 176% next year from its current value of $16,600.

Rekt predicts an upside to candle three in 2023 that would send the king asset to as high as $46,000.

“Technically, the most a BTC Candle 3 ever rallied was in 2019. In 2019, BTC rallied to Candle 1 and Candle 2 resistance at $13,900 (black). Therefore technically, the 2023 Candle 3 could rally plus-180% to tag the Candle 1 and 2 resistance at ~$46,000, at most.”

The London Crypto, partner of exchange ByBit, believes that the ultimate bear market low lies between $10,000 - $12,000 for Bitcoin, followed by a cycle high of $175,000 in 2024 - 2025.

"Bitcoin Macro Analysis. BTC has made a 77% correction in this bear market, compared to 84% in 2013 and 83% in 2017. Studying our previous cycles high vs lows, we can estimate the low for this bear to be the $10k-$12k range, followed by a high of $175k in 2024-2025."

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