Cryptocurrency investors are always interested to learn about the prospective performance of the sector's most popular asset - Bitcoin (BTC). A crypto microblogger named Inmortal recently tweeted his three scenario analysis for the BTC price action from the end of 2023 till the beginning of 2024.

In the first scenario, Inmortal believes that the BTC price action should remain in the range of $20,000 - $30,000 until the fourth quarter of 2023 and hence investors need to be prepared for an "extremely boring" ride in the meantime. This period would be succeeded by a breakout above $30,000, driving the asset's price towards the $48,000 level.

The second scenario sees the retest of the $25,000 after an extended consolidation at $29,000 while the third predicts a roller coaster period with BTC's price updating the local top and later declining. All three scenarios carry different probabilities, with the first having a 60-70%, the second has a 50% and the third remaining with a 30-40 % probability, according to Inmortal.

Hence, a range bound price action for an extended period of time followed by a breakout can be expected for the BTC in 2023. The BeInCrypto editors have also recently published the 2023 Bitcoin prediction shared by various experts from the crypto industry.



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