Bitcoin Blow-Off Peak Is Coming Sooner Than Market Expected, Says Crypto Trader – Here’s Why
A popular crypto trader believes Bitcoin (BTC) will reach its cycle peak much sooner than many other digital asset analysts expect.
The pseudonymous analyst Credible Crypto tells his 364,200 followers on the social media platform
Blow-off tops experience dramatic price and volume increases to some extent, followed by dramatic declines.
Credible Crypto's theory clashes with the popular four-year cycle theory, which states that Bitcoin began its most recent bull cycle in late 2022 and will peak in 2025/2026.
The analyst stated in late December that he expects BTC to rise to a new all-time high in the first quarter of this year and break $100,000 in mid-2024, which he believes will coincide with the end of Bitcoin's current parabolic run .
“In the coming months, I expect the upward trend to continue, at a more aggressive pace than we have seen so far, as we prepare for a peak that will mark the completion of this multi-year cycle for the books.”
Credible Crypto expects “the first major secular Bitcoin bear market” to begin in 2025, surprising many in the crypto space.
At the time of writing, BTC is trading at $46,398.
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