It is difficult to predict the future of Bitcoin prices, as the cryptocurrency is still a relatively young asset class. However, many analysts believe that the increased institutional and retail interest in Bitcoin, combined with its limited supply, could result in a further increase in prices over the coming years.
In particular, many analysts predict that the price of Bitcoin could reach $50,000 by the end of 2023. This is based on the assumption that institutional investors will continue to invest in the cryptocurrency, that the demand for Bitcoin will remain strong, and that the limited supply will drive up prices.
In terms of support and resistance levels, the current resistance level for Bitcoin is around $11,500. This is the highest price that Bitcoin has reached since December 2017. Analysts believe that once Bitcoin breaks through this resistance level, it could surge to much higher levels.
On the other hand, the current support level for Bitcoin is around $8,600. This is the lowest price that Bitcoin has traded at since April 2020. If Bitcoin were to fall below this level, it could signal a potential bear market.
Overall, the Bitcoin bull run of 2019 was one of the most significant price increases in the cryptocurrency's history. Many analysts believe that Bitcoin could reach much higher levels over the coming years, as institutional and retail investor interest continues to grow.