It’s been just revealed that an important crypto analyst is predicting a Bitcoin rally. Check out the latest reports below.
Crypto analyst predictions optimistic Bitcoin move
It’s been just revealed that the crypto strategist is unveiling his next price target for Bitcoin (BTC) that will massively defy BTC’s current downtrend.
Pseudonymous analyst Credible made sure to highglithe the fact that one day he will be bearish on Bitcoin, but not until it roars past the $100,000 level to complete an extended bull cycle.
“Looking forward to being bearish after this wave up over $100,000 that I’m expecting completes.”
Credible said: ‘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.”
Someone else noted that “The analyst next takes aim at those who predict Bitcoin will fall below $15,000 by saying that similar doom-and-gloom prognostications last year missed out on BTC lurching to a series of new all-time highs (ATHs) in the late summer and fall.”
“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.”
USDT Collapse could influence stablecoins
It’s been revealed that TerraUSD will be impacting stablecoins. Check out what an important Bloomberg strategist had to say.
Reports say that the senior Bloomberg analyst Mike McGlone says algorithmic stablecoins relying on market growth may be done for the foreseeable future.
During a new interview with Cointelegraph, the commodities strategist says that the recent collapse of Terra (LUNA) and its stablecoin
“TerraUSD (UST) taught the crypto community a lesson on the dangers of algorithmic stablecoins and helped rid the market of surplus digital assets.”