A pseudonymous crypto analyst who accurately predicted the end of the 2021 bull market predicted new lows for Bitcoin BTC/USD in 2023.

What happened: Analyst “Pentoshi” told his 660,000 followers in December 2022 that $12,000 will be the bottom for Bitcoin in 2023.

However, BTC will not make any new lows until the first quarter of 2023, according to the analyst.

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In response to a trader’s question as to what could cause Bitcoin to fall another 20% below its ‘FTX lows’ of $15.5K, ‘Pentoshi’ claimed, ‘You don’t even need a black swan…’

price action: At the time of writing, BTC is trading at $28,931.99, up 0.5% over the past 24 hours Benzinga Pro data.

This story was originally published on December 9, 2022.

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