Bitcoin Expected to Rebound to $120K in 2023 Despite Recent Dip, Indicators Suggest

Bitcoin could reach $120,000 early next year according to Glassnode co-founders, based on BTC-to-gold ratio and other indicators.

BTC's risk signal suggests major decline is unlikely after recent dip below $28,000.

BTC is consolidating above neckline after completing bottoming pattern, while dollar index tops.

October is seeing optimistic signs like ETF hype, seasonality, and increased options interest.

BTC currently around $27,948, up 1.2% in 24 hours.