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Historic price fractal, strong technicals and Bitcoin ETF approval euphoria could keep BTC prices elevated for the rest of 2023. Bitcoin (BTC) is up over 70% so far in 2023, helped by a banking crisis and hopes about a spot BTC exchange-traded fund (ETF) approval in the United States. BTC/USD daily price chart. Source: TradingView So, will Bitcoin price continue to climb for the rest of 2023? Cointelegraph takes a look at its chances and possible BTC price targets. Related: BTC price models hint at $130K target after 2024 Bitcoin halving 2020 Bitcoin price fractal eyes $50K Bitcoin’s ongoing market trend looks very similar to its price action during the 2017 to 2020 period. Therefore, it can repeat a key breakout moment (the greened area) for a decisive bull run, argues popular BTC analyst Stockmoney Lizards. BTC/USD price performance comparison between 2020 and 2023. Source: TradingView/Stockmoney Lizards The 2020 breakout preceded a Bitcoin bull run to its record high of $69,000 i...

Matrixport’s head of research and strategy suggests the industry will soon see layer 1 and other altcoins outperforming relative to Bitcoin. Institutional investors are “not giving up on crypto,” with recent data pointing to as much as 85% of Bitcoin buying being the result of American institutional players, according to Matrixport’s chief strategist.  Markus Thielen, the head of research and strategy at the financial services firm, told Cointelegraph the evidence shows that institutions are not “giving up on crypto” and is an indicator that we might be entering a new “crypto bull market now.” The data was shared in a Jan. 27 report from Matrixport, which suggests that it can be distinguished whether a digital asset is more favorable by retail or institutional investors at any given time based on whether that asset is performing well in the United States or Asian Trading hours. The report stated that if an asset that trades 24 hours “performs well” during U.S. trading hours, it indi...