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Bitcoin will reach $180,000 by December 2023 following historical price cycles, TechDev predicts.
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The total crypto market cap attained its highest value in November 2021, when the value rallied to $3.05 trillion at the peak of the bull run. Since then, that value has retraced, dropping as low as $826 billion in December 2022.
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As of writing, the $1.16 trillion total crypto market cap on CoinGecko comprised the individual market caps of 10,240 tokens in 103 categories across 745 exchanges.
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Given the historical pattern of Bitcoin development, an analyst on crypto Twitter with the identity TechDev has observed the Bitcoin price would reach between $160,000 and $180,000 by December 2023.
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Some users think 2023 is too early and project 2025 for the cycle completion.
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The price movement has recovered off the 21-day MA with massive green candlesticks, indicating that there may still be some positive enthusiasm in the market.
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