Credible Crypto Projects Bitcoin Rally That Will Surprise Bears
A leading crypto analyst, known as Credible Crypto, has a mega bullish price target for Bitcoin (BTC) which is currently trading at around $30,000.
The analyst tweeted to his 332.4K followers that there will be a day to be bearish on Bitcoin, but the leading digital asset will hit past the $100,000 level to finish an extended bull cycle before that happens.
“Looking forward to being bearish after this wave up over $100,000 that I’m expecting completes.Seeing the way sentiment is now during a mid-cycle correction means the correction that corrects the entire bull cycle from $3,000 to $100,000+ is going to be absolutely brutal.”
Looking forward to being bearish af after this wave up over 100k that I’m expecting completes. Seeing the way sentiment is now during a mid-cycle correction means the correction that corrects the entire bull cycle from 3k to 100k+ is going to be absolutely brutal. $BTC
Credible Crypto points out that there are those who predict Bitcoin to fall below $15,000, which follows the same logic as those who missed out on BTC hitting a series of new all-time highs (ATHs) in the late summer and fall last year.
“The argument for $13,000-$14,000 BTC on the premise that past major bear markets have led to 80% declines from the top makes a major assumption – that $65,000 was the cycle top.It’s the same assumption people made at $30,000 in June ‘21 before we rallied to a new ATH of $65,000 three months later.”
The argument for 13k-14k $BTC on the premise that past major bear markets have led to 80% declines from the top makes a major assumption- that 65k was the cycle top. It’s the same assumption people made at 30k in June ‘21 before we rallied to a new ATH of 65k 3 months later.
The analyst also shared a model from a fellow crypto analyst, Plan C, which aims to identify market bottom for Bitcoin.
“The most accurate floor model I have seen. No guarantees, but it has marked our bottom every time we have tapped it.Like the name, I see this as ‘confluence’ and do not base my entire bullish thesis on it, but it certainly supports the idea that we have found our bottom.”
The most accurate floor model I have seen. No guarantees, but it has marked our bottom every time we have tapped it. Like the name, I see this as "confluence" and do not base my entire bullish thesis on it, but it certainly supports the idea that we have found our bottom. $BTChttps://t.co/rFqPoPlfse
