Crypto Analyst Predicts Bitcoin to Explode Over 130% and Hit a New All-Time High – Here’s the Timeline
A widely followed crypto strategist and trader predicts that Bitcoin (BTC) will hit a new all-time high before the end of 2023.
Pseudonymous analyst Credible Crypto tells his 341,500 Twitter followers that the leading digital asset is likely to surge more than 130% from its current value of $30,057 in just a few months.
“In a few months, you won’t have to imagine much… All you have to do with your imagination is imagine the rise pictured here at about twice the rate. New all-time highs this year. Let’s get it.”
Source: ShrekBTC via Credible Crypto/Twitter
The trader shares a chart that shows Bitcoin first reaching support levels around $50,000 in 2024 and then breaking through $70,000 in early 2025.
However, Credible Crypto predicts that Bitcoin will reach these levels before the end of the year.
Looking at the Bitcoin (BTC.D) dominance chart, the trader forecasts BTC.D to be bullish until it peaks around 58% in late 2023 and then declines, which he believes will spark a massive altcoin run.
The trader expects BTC.D to continue falling in the first seven months of next year, reaching a bottom of around 35% in July 2024. At the time of writing, BTC.D is trading at around 51.50%.
“We’ve come a long way from the ‘blue-green’ region below in the last six months. Like I said, everything we would expect from BTC dominance is coming to fruition. The “proper momentum movement” has started, BTC has started to “accelerate to the upside” and we have met my absolute minimum goal of 50% dominance.
I still think we’re pushing higher here in the coming months as BTC continues its impulsive run to new all-time highs.
What is likely to follow, however, will be the biggest alt-season since 2017. Everyone will have a turn.”
Source: Credible Crypto/Twitter
Also on the crypto trader’s radar is Ethereum (ETH) challenger Hedera Hashgraph (HBAR).
He warns that if Bitcoin sees a market correction to the $25,000 or $26,000 levels, HBAR’s bottom is not yet in and it could fall towards $0.040.
“According to my latest update on HBAR, BTC eventually reached the $25,000 region and that gave us a drop in HBAR as expected. We still have no confirmation that the bottom is in, but things are looking good. Congratulations if you managed to snag some bars under $0.05! We will update all HBAR barians again once we receive further confirmation.”
Source: Credible Crypto/Twitter
Hedera is trading at $0.048 at the time of writing, up 0.5% over the past 24 hours.
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