A crypto strategist who is followed closely believes that Bitcoin (BTC) is ready to make a parabolic advance. The pseudonymous analyst, Credible Crypto, informed his 341,900 Twitter followers that Bitcoin’s bull market has most likely started following BTC’s successful retest of $25,000 as support.

The trader predicts that Bitcoin is set to make significant gains in the high timeframe, as he expects bullish momentum to grow exponentially in the upcoming months.

Credible Crypto uses BTC’s 2020 bull market as an example, a period when Bitcoin generated monster rallies for six straight months.

“For example, on our last impulse ($10,000-$60,000) the monthly candles following our major monthly retest at $10,000 (equivalent to the one we just got here at $25,000) were larger than any of the preceding ones and continued to grow in size till our peak.

The first was a $3,600 move, the next a near $7,000 move, the one after that a whopping $12,000 move, after that a $15,000 move and the 2nd to last monthly candle prior to our peak an incredible $25,000 move.

Thus, we can assume that the monthly candles as we move up will only increase in size.”

The analyst believes that Bitcoin is already in bullish territory, Credible Crypto predicts that BTC will record a new all-time high (ATH) as soon as October.

Bitcoin to hit $100k

According to a prominent cryptocurrency analyst, Bitcoin (BTC) is anticipated to reach six figures for the very first time in the near future. Kaleo, a well-known analyst on Twitter with over 592,400 followers, predicts that Bitcoin will surpass the $100,000 mark in either late 2024 or early 2025.

“When do you think Bitcoin breaks above $100,000?

My guess is early 2025.

Wouldn’t be shocked to see late 2024. The earlier it happens, the more fun we have in 2025.”

The prediction of Bitcoin reaching six figures is based on its next halving event, projected to occur in April 2024.

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