A well-known crypto analyst, Credible Crypto, predicts a massive Bitcoin price surge. He believes a breakout from its current trading range is imminent.
Bitcoin’s Breakout Potential
Credible Crypto, boasting a large following on X, states that the buying pressure on Bitcoin is intense. He anticipates a significant price increase once Bitcoin breaks out of its current range, saying it will “leave people in awe.”
He referenced another analyst’s prediction, based on Elliott Wave theory, suggesting Bitcoin could reach a cycle peak of around $264,000. While acknowledging the uncertainty, Credible Crypto noted that this target aligns with his long-held prediction of a Bitcoin price between $100,000 and $300,000 for this cycle’s peak.
At the time of writing, Bitcoin was trading around $109,819.
Ethereum and XRP Forecasts
Credible Crypto also offered predictions for other cryptocurrencies. He suggested that if Bitcoin breaks out, Ethereum (ETH) could rise to approximately $3,400. Currently, ETH is trading around $2,594.
Finally, the analyst predicted a significant rise for XRP, projecting a price of around $18 this cycle. He bought XRP at $0.18 in 2019 and expects a return of over 100x. He believes XRP needs to overcome a key resistance level against Bitcoin (XRP/BTC) before reaching this target. Currently, XRP/BTC is trading around 0.00002063 BTC.
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