Renowned cryptocurrency analyst and trader CredibleCrypto, a prominent figure in the crypto community with a substantial following of 343,800 on X (formerly Twitter), has made a striking prediction regarding the future price of Bitcoin (BTC) before the conclusion of this year.
Prediction of a Significant Price Surge
CredibleCrypto boldly asserts that Bitcoin is poised for a triple-digit surge, envisioning the cryptocurrency to reach an impressive price point exceeding $70,000 by the end of 2023. This projection represents an extraordinary increase of approximately 135% from its current valuation.
In unequivocal terms, CredibleCrypto states, “$70,000+ this year, in case I wasn’t clear before.” However, the analyst presents a nuanced perspective on this forecast, highlighting the likelihood of Bitcoin trading within a specific range before the anticipated major rally takes effect. He emphasizes the importance of recent price stability, particularly in preserving the crucial “green zone” situated around the $29,000 mark.
In his elaboration, CredibleCrypto maintains, “We observed strength, and our green zone held [around the $29,000 price level]! This could very well be our bottom – yet, the recent upward movement appears to be corrective, and we have noted a sharp rejection on lower time frames. As a result, it wouldn’t be surprising if we experience a period of consolidation before the anticipated substantial upward movement begins. It’s vital to maintain focus on the broader perspective and to refrain from adopting a bearish stance even if we witness a minor decline from current levels. Any value above $25,000 should be considered a valuable opportunity.”
Bullish Momentum Post All-Time High Break
CredibleCrypto goes on to detail his expectations for Bitcoin beyond its previous all-time high of $69,000, set in November 2021. Once this milestone is surpassed, he anticipates a meteoric surge that will propel Bitcoin’s value beyond $100,000.
The analyst confidently states, “I am expecting a price of $100,000+ for the conclusion of the upward move that shatters the prior all-time high. This surge is anticipated to transpire a few months subsequent to surpassing the all-time high. Should we achieve this feat within this year, the value of $100,000 could materialize either this year or in the early months of the following year.”
CredibleCrypto‘s forecast of Bitcoin‘s remarkable ascent to over $70,000 by the year’s end, followed by a subsequent surge beyond $100,000, reflects the prevailing bullish sentiment within the cryptocurrency community. While a range-bound period may precede the anticipated rally, the analyst’s insights underline the importance of a broader perspective and the potential for substantial gains in the crypto market.