A popular crypto analyst, known as Credible Crypto, has predicted that Bitcoin (BTC) could fall to a price range between $53,000 and $54,000 before a potential rebound.
A Short-Term Dip, Then a Big Bounce?
Credible Crypto, who boasts a following of over 400,000 on social media, believes that Bitcoin is likely to experience a short-term relief rally before continuing its downward trend. He sees this dip as a final bottom before a potential bullish reversal.
“While we could still see Bitcoin drop even lower, I think it makes more sense for us to see a bounce first,” Credible Crypto explained. “There’s a lot of short-selling pressure out there, and we haven’t seen the full impact of that yet.”
A Big Rally After the Dip
Credible Crypto’s analysis suggests that Bitcoin could experience a significant rally after hitting this bottom. He believes that the dip will be a catalyst for a big surge in price.
“I’m expecting bounces across the board after this dip,” he said. “I’ve already taken profits on all my short positions.”
Bitcoin’s Current Price
As of writing, Bitcoin is trading at $58,917. Credible Crypto’s prediction suggests that the price could drop below $55,000 before rebounding.
Important Note: This is just one analyst’s opinion, and it’s important to conduct your own research before making any investment decisions. The cryptocurrency market is highly volatile, and past performance is not indicative of future results.
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