A crypto chartmaster shares why bitcoin could fall up to 50% after its massive comeback — and why he's bullish on these 4 altcoins in the long term
Chartmaker Forrest Przybysz shared his 2023 price outlook for bitcoin and ether.Bitcoin can continue its impressive rally, but will eventually retest its lows and could potentially lose half its value, according to aThe price of the world's biggest crypto has risen 48% year-to-date to an eight-month-high of $25,000 during a broader rebound for cryptos and other risk assets.
Bitcoin will run into technical resistance in the high $20,000s and low $30,000s, which could send it back under $20,000.If bitcoin's rally stalls, Przybysz's charts show that it would likely fall up to 24% to its nearest support level of $19,000, though a 50% decline to $12,700 is possible if the token can't hold that crucial mark. And in a worst-case scenario, bitcoin could slide to levels last seen in late 2020.
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