It has been just revealed that an important crypto analyst said that Bitcoin would surge in price, and this will be by more than 130%. Check out the latest reports about this below.
Bitcoin to see bullish moves
A widely followed crypto strategist and trader is predicting Bitcoin (BTC) will reach a new all-time high before the end of 2023.
Pseudonymous analyst Credible Crypto tells his 341,500 Twitter followers that the top digital asset is likely to rise by more than 130% from its current value of $30,057 in just a matter of months.
“Won’t have to imagine much in a few months… all you will have to use your imagination for is to visualize the rise pictured here at about 2x the speed. New all-time highs THIS YEAR. Let’s get it.”
The trader shares a chart showing Bitcoin first hitting a support level at around $50,000 in 2024 and then crossing the $70,000 level in early 2025.
However, Credible Crypto is predicting that Bitcoin will rally to these levels before the year’s end.
Upon analyzing the Bitcoin dominance chart (BTC.D), the trader has made a bullish prediction for BTC.D. According to their analysis, BTC.D will reach its peak at approximately 58% in late 2023, followed by a decline that will trigger a significant surge in altcoins.
The trader believes BTC.D will continue to decline for the first seven months of next year and reach a low of about 35% in July 2024. At time of writing, BTC.D is at about 51.50%.
“We have come a long way from the ‘teal’ region below over the last six months. As I said then, everything we would expect to see with BTC dominance is playing out. The ‘real impulsive move’ has started, BTC has begun ‘accelerating to the upside’ and we have hit my bare minimum target of 50% dominance.”
Stay tuned for more news from the crypto space, and make sure to check out the markets as well.