A popular crypto analyst, known as Credible, is predicting a major price jump for Bitcoin (BTC). He believes Bitcoin is poised to climb back to its all-time high of around $74,000. But here’s the catch: he thinks this rally will be a fake-out, designed to lure in unsuspecting investors.
A Fake-Out Rally?
Credible says Bitcoin is currently forming a bottom and is ready to push towards its all-time high. He believes this will be a short-lived rally, designed to trap investors who are eager to jump on the bandwagon.
Looking at the Bigger Picture
Credible also has a long-term view on Bitcoin. He thinks the current price action is just a temporary consolidation phase before a much larger rally to $100,000 begins. He believes this major bull market will start sometime next year.
Don’t Get Caught Up in the Hype
While Credible predicts a bullish future for Bitcoin, he cautions investors to be wary of the potential fake-out rally. He suggests that the current consolidation phase is taking longer than expected and that it’s unlikely Bitcoin will reach new highs before the end of the year.
Important Note: This information is for general knowledge and should not be considered investment advice. Always do your own research before making any investment decisions.
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