A respected anonymous crypto analyst known as Credible Crypto has proclaimed an expected record-breaking climb for Bitcoin, the world’s leading cryptocurrency, before the end of the year.
Credible Crypto believes Bitcoin could mimic its previous surge wave, fighting for months to surpass a significant resistance level before achieving its all-time high, as it did in 2020. The analyst points out that such a milestone is feasible within the year despite voices stating the impossibility: “You will continue to hear ‘How can it reach all-time highs before the end of the year? It’s impossible.’ I believe we are currently at a comparable stage to our last surge in 2020. Recall that it took about three months to complete the support/resistance flip and retest at $10,000. We reached an all-time high with a 90% rise two months later. We reached the peak for the surge movement four months after that. We saw over a 500% increase just six months after completing the support/resistance flip and retesting $10,000. Don’t tell me it can’t be done when it has literally been done before. An all-time high will probably be seen within this year.”
At the time of writing, Bitcoin is trading at $26,740, requiring a surge of over 150% to revisit its record level of around $69,000 recorded in November 2021.
Furthermore, Credible Crypto issued three key cautionary points regarding Bitcoin’s price action in 2023, indicating significant differences from three years ago:
Therefore, a rapid rise to the previous all-time high is not only realistic but expected if we’re witnessing the start of a major surge here. “Remember, as we’ve seen in each of the previous two surges of this cycle ($3,000, $14,000, $10,000, and $60,000), the candles get larger as the rise increases.”