The renowned analyst, Credible, known for his unconventional predictions in the world of cryptocurrency, predicts that Bitcoin (
BTC
) is on the brink of a significant upward surge.
Addressing his 396,100 followers on the social media platform X, the pseudonymous analyst suggests that Bitcoin may experience a final dip before embarking on a remarkable breakout.
Credible speculates that BTC could potentially drop to $62,000 before initiating a parabolic rally to reach new record highs.
“The downside is now limited to $60,000 (invalidation), and realistically, it is unlikely to go lower than $62,000-$63,000 (if at all), with a high probability that this level will be surpassed in advance. I estimate that within seven to ten days, we will witness a substantial surge in BTC. Target: $100,000+”
The analyst predicts that the impending Bitcoin rally will prompt crypto traders to divest their altcoin holdings out of fear of missing out on the action.
“BTC will create an impressive impulse candle, so large and powerful that it will capture the attention of the entire space, diverting liquidity away from the myriad of other altcoins (including DOGE) and towards BTC as it begins its vertical ascent.”
In the short term, Credible anticipates that Bitcoin will experience another surge above $70,000 before a correction back to $64,000, followed by a rally to new all-time highs.
“Manifesting.”
At the time of writing, Bitcoin is valued at $69,577.
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