According to popular trader Credible Crypto, Bitcoin is expected to hit new all-time highs in 2023, with October as the favored month.
The trader argued that BTC/USD needs to present increasingly larger green monthly candles to keep it in line with previous impulse periods and that a successful retest of support on monthly timeframes has occurred.
He further added that BTC/USD should see monthly moves of more than $10,000 at a time, easily covering the $40,000 gap to reach its previous all-time high.
However, trading firm QCP Capital warned that regulatory oversight means that “near-term” approvals for Bitcoin spot price exchange-traded funds (ETFs), even for BlackRock, remain less than likely. At the time of writing, BTC/USD traded around the $30,000 mark, according to data from Cointelegraph Markets Pro and TradingView.
Overall, while some traders are optimistic about a return to record BTC price levels, it is important to remember that every investment and trading move involves risk, and readers should conduct their own research when making a decision.