Bitcoin (BTC) is expected to experience a significant upward surge in the coming days, according to crypto analyst Credible. The analyst predicts that Bitcoin will undergo a slight decline before initiating a strong rally towards new record highs. Credible, who communicates with a large following on the social media platform X, suggests that BTC may temporarily fall as low as $62,000 before triggering the anticipated parabolic rally.
«Downside now limited to $60,000 (invalidation) and realistically no lower than $62,000-$63,000 (if that) with a high likelihood that this level gets front run as well. I give it about seven-10 days before we absolutely giga-send BTC. Target: $100,000+»
«Downside now limited to $60,000 (invalidation) and realistically no lower than $62,000-$63,000 (if that) with a high likelihood that this level gets front run as well. I give it about seven-10 days before we absolutely giga-send BTC. Target: $100,000+»
According to Credible, this upcoming Bitcoin rally is likely to prompt crypto traders to sell off their altcoins due to fear of missing out. As Bitcoin shows substantial upward movement, the collective attention of the crypto space is expected to shift towards BTC, causing liquidity to flow out of various altcoins and into Bitcoin.
Short-term projections from Credible imply that Bitcoin will experience another rally surpassing $70,000, followed by a correction back to $64,000. From there, Bitcoin is predicted to surge to new all-time highs.
Currently, Bitcoin is valued at $69,577 as per the available data.
- Analyst Credible suggests that Bitcoin is on the verge of a significant rally after a minor decline.
- Bitcoin may fall to $62,000 in the short term before initiating the predicted rally.
- The rally could cause crypto traders to sell off altcoins and redirect their attention and liquidity towards Bitcoin.
- Bitcoin is expected to experience another rally above $70,000 before facing a correction back to $64,000.
- Finally, Bitcoin is predicted to reach new all-time highs after the correction.