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A senior crypto analyst has reiterated his bullish prediction that Bitcoin (BTC) will reach its all-time high before the end of 2023. The expert made a striking forecast for Bitcoin in his remarks.
Expecting a 157% Increase in Bitcoin!
Credible Crypto, a social media influencer known by the pseudonym, claimed that Bitcoin could rise by approximately 157% from its current level before the end of the year. In his statements, Credible Crypto stated:
I previously tweeted that it took us two months to go from $16,000 to $60,000 and from $18,000 to $60,000. Now we have four months to go from $28,000 to $70,000. This is roughly a $40,000 move of the same magnitude, and we still have twice as much time to do it this year. Would I have liked to see a major rally already? Absolutely. What does it mean that we haven’t done it yet? Simply put, the consolidation before this major move is taking longer. But the longer the consolidation lasts, the more aggressive the expansion will be, so it definitely doesn’t push our timeline back.
Possible Scenarios for Bitcoin!
However, the expert mentioned that if the leading cryptocurrency Bitcoin continues to move within a narrow range, it would question the bullish prediction. The analyst stated:
If we stay at the current levels two months from now and don’t experience a breakout from this consolidation, then I would be much more skeptical about seeing a new high this year. But it won’t happen with four months still remaining. We have data that shows such a move of this magnitude is definitely possible, so it wouldn’t make sense for me to throw my thesis out the window.
Earlier this month, Credible Crypto predicted that Bitcoin would surpass its all-time high recorded in November 2021 and then rise above $100,000.
