Bitcoin to Surge Next Month, Predicts Expert
He claims that BTC might start rising sharply in price sometime next month, and that by sometime next year, Bitcoin's price will rally to around $150,000.
I believe that Bitcoin is on a bullish path to reach six figures in 2023. I think that the cryptocurrency has a lot of potential and is a great investment. I think that the price of Bitcoin will continue to rise as more people invest in it.
The recent bear market has been a tough time for Bitcoin investors, with the crypto giant dropping over 60% from its previous high. However, Credible believes that this is simply a correction period and that Bitcoin will rally back up to six figures in the near future. This positive outlook is based on a number of factors, including the growing institutional interest in Bitcoin and the overall strength of the crypto market.
The crypto market has been on a roller coaster ride this year.
It's been a rollercoaster ride for the crypto market over the past year or so. After a surge in interest and prices during the pandemic, the market has taken a turn for the worse in recent months. Analysts attribute this to a number of macroeconomic factors, including excess money in circulation and a lack of clarity around regulation. However, it's still early days for the crypto market, and it remains to be seen how it will perform in the long term.
It's no secret that the cryptocurrency market has been incredibly volatile over the past few months. After reaching an all-time high of $68,000 in April, Bitcoin fell over 60%, with altcoins following suit. While there are a number of factors that have contributed to this volatility, including inflation statistics and lending rate hikes, it's still unclear what the future holds for the cryptocurrency market.
It is good to see that the market is stabilizing after a period of volatility. BTC remained strong after the Feds announced another interest rate hike last week, only seeing a small price decrease. This shows that the cryptocurrency is becoming more stable and mature, and is a good sign for the future.
Credible is bullish on BTC's growth next year.
If you're like most people, you're probably wondering whether the market is going to get worse before it gets better. However, Credible believes that Bitcoin just completed a lengthy correction and is ready to spark a parabolic rally to hit $150k. So, if you're thinking about investing in Bitcoin, now might be the time to do it.
Momentum. Which is why estimates must be within a range- it can vary. I am expecting at least 100k, not 300k+, likely somewhere around 150k-ish. But will know more as PA develops and the move actually starts. – Credible.
Credible's bullish sentiments are backed by statistics!
The Elliott Wave theory is a popular technical analysis approach that attempts to forecast price movement by leveraging crowd psychology. The theory states that a significant uptrend consists of five waves, with the first three being upswings and the last two being corrective phases. Credible is widely known to practice this approach and is therefore well-positioned to provide accurate market predictions.
While we have gone lower than expected in terms of price, macro invalidation hasn’t been hit ($14,000) and time-wise we are still right on track for our fifth wave, despite what it may seem. Time-wise, wave four correction is proportional to third wave, just as wave two was to first wave. – Credible.
As the expert's chart shows, BTC is expected to start rising sharply in price sometime next month. He claims that by sometime next year, Bitcoin's price could rally to around $150,000. This would be an incredible feat for the cryptocurrency, which is currently trading at around $22,000. These predictions show that BTC is expected to have a bright future and could potentially become a mainstream currency.
Why charts are the key to understanding data
In his latest Twitter thread, popular crypto analyst Credible Crypto explained that momentum is the key driver behind his prediction that Bitcoin will reach $100,000 by 2025. He also added that the present sentiment is similar to the attitude of investors and traders during the Covid-19 outbreak, when many were seeking safe haven assets. With Bitcoin's recent breakout above $50,000, it's clear that the momentum is building and Credible's prediction may yet come true.
Heard almost exactly the same during the Covid crash in March . We went 20x soon after.”
Bitcoin is on the rise, trading at a 2.37% increase from its last 24-hour price. Currently hovering above $19,500, this popular cryptocurrency is showing no signs of slowing down.