A popular crypto analyst, Credible Crypto, predicts one final Bitcoin price drop before a massive bull run.
The Dip Before the Rocket
Credible Crypto, who boasts a large YouTube following, uses the Elliott Wave theory to analyze Bitcoin’s price movements. This theory suggests that bullish trends typically follow a five-wave pattern, with waves two and four being corrections. Credible believes Bitcoin is currently in wave two of a five-wave rally.
He suggests Bitcoin could dip below $80,000 before skyrocketing. However, he emphasizes that as long as Bitcoin stays above $58,000, this dip wouldn’t invalidate the overall bullish trend.
The Big Bull Run
Credible predicts that the upcoming upswing will be even more dramatic than the previous surge from $58,000 to $90,000. He sees this as the final, explosive wave of a bull market that began in 2018 when Bitcoin was around $3,000.
Price Predictions
According to Credible’s analysis, Bitcoin could reach at least $150,000, with a potential high of $230,000. At the time of writing, Bitcoin is trading around $97,987.
Disclaimer: This is just one analyst’s opinion. Cryptocurrency investments are risky, and you should always do your own research before investing. This information is not financial advice.
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