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Bitcoin (BTC) May Hit $50,000, CryptoLaw Founder Believes, But There's a Catch

Thu, 02/23/2023 - 12:16
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Yuri Molchan
John Deaton has commented on various opinions on Twitter regarding which way BTC price will head next
Bitcoin (BTC) May Hit $50,000, CryptoLaw Founder Believes, But There's a Catch
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Founder of CryptoLaw.US and pro-Ripple crypto enthusiast John Deaton, has left a comment on a tweet, which says that Crypto Twitter is speculating whether the price of the flagship crypto, Bitcoin, is going to plunge to the $10,000 level.

He tweeted that overall, people who are offhandedly making predictions about BTC rising to the $50,000 level or dropping to $10,000 basically have no idea what they are talking about. Deaton added that perhaps, to please both those who are bearish and bullish, Bitcoin may first drop to the $10,000 mark and then surge all the way to $50,000 after that and then "everyone will be right."

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Binance traders going long on Bitcoin

Crypto analyst Ali Martinez has shared several tweets about Bitcoin, showing a much smaller price target than $50,000.

Ali has spotted a buy signal on a four-hour chart a key level of support. He said that provided the 100 EMA remains at $23,000, then Bitcoin may jump higher, to the 50 EMA and the $24,200 level and will resume its uptrend after that.

The other scenario for the flagship cryptocurrency is dropping to $22,700 if BTC fails to stay above the 100 EMA. At the time of this writing, Bitcoin is changing hands at $24,247, according to CoinMarketCap.

In another tweet, the trader shared that at the moment, more than 60% of all trader accounts on the Binance exchange that have an open position on Bitcoin futures are going long.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at