A popular crypto analyst, known as Credible, is predicting a significant Bitcoin price surge to new all-time highs by the end of July. He bases this prediction on Elliott Wave theory, a technical analysis method that studies recurring price patterns to forecast market movements.
Bitcoin’s Predicted Path
Credible, who boasts a large following on X (formerly Twitter), believes Bitcoin will consolidate in the coming weeks before a major breakout. His chart suggests a brief rally above $110,000 followed by a pullback to around $100,000, setting the stage for a powerful upward move. He emphasizes the importance of watching key price levels to confirm this prediction.
Credible explains that even though there might be several possible price patterns, those leading to a period of low volatility before a big move are the most promising. A significant decrease in price fluctuations often precedes a strong breakout.
Altcoins to Follow Bitcoin’s Lead?
Credible also anticipates a substantial rise in altcoin prices, dismissing concerns about a lack of liquidity. He argues that the crypto market is relatively small compared to the overall financial market, meaning there’s ample liquidity available to fuel an altcoin rally. He points to Bitcoin’s own price increase from below $30,000 to its current level as evidence that liquidity concerns are often overblown. His message is simple: stop worrying about where the money will come from; it’s out there.
Disclaimer: This information is for general knowledge and shouldn’t be considered financial advice. Always conduct your own research before making any investment decisions. Cryptocurrency investments are inherently risky.
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