A crypto trader thinks Bitcoin could go on a wild ride, potentially reaching a price of $300,000. But he warns that a big crash could follow.
Bitcoin Could Skyrocket
The trader, who goes by the name Credible Crypto, believes Bitcoin could reach a peak price between $100,000 and $300,000 in the coming months. He’s even more bullish than some other analysts, who predict a peak around $150,000.
He bases his prediction on a technical analysis tool called the Elliott Wave theory. This theory suggests that asset prices move in a predictable pattern of waves. According to Credible Crypto, Bitcoin is currently in the final wave of a five-wave pattern that started in 2014.
Brace for a Big Drop
However, Credible Crypto warns that this massive price increase could be followed by a brutal crash. He predicts that Bitcoin could plummet to below $30,000, potentially even reaching the $10,000 to $14,000 range that was seen just a year ago.
The Catch
This prediction is based on technical analysis, which can be unreliable. It’s important to remember that the crypto market is highly volatile and unpredictable.
Disclaimer: This information is for educational purposes only and should not be considered investment advice. Do your own research before making any investment decisions.
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