After the major crypto market dip in 2022, it has been challenging for the crypto bulls this year has there have not been a significant price movement either to the upside or the downside as price has been between $20,000 and $31,500.
From November 2021 when price of Bitcoin reached an all-time high at $67,500, the bears were in charge of the market for one year. In November 2022, the price reached $15,479. That is approximately 77% fall. The opening price of Bitcoin in 2023 was $16,519, which was higher than the support of 2022 at $15,479. This is an obvious indication that 2023 started bullish. January 2023 was majorly bullish as the monthly closing price was at $23,081. The rally continued in February as price hit a new 2023 high at $25,000. From March 2023 to October 2023, the price of bitcoin ranged between $24,700 and $31,800.
In the first week of November 2023, there was a breakout to the upside as the price of Bitcoin reached at new 2023 high at $37,880. There might be a continued bullish run to a new 2023 despite the as price of Bitcoin is currently overbought on both daily and weekly charts.
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