Bitcoin To Explode by Over 130% Before the End of 2023, Predicts Widely Followed Trader – But There’s a Catch

A widely followed crypto analyst and trader is predicting a triple-digit rally for Bitcoin (BTC) over the coming months.

Pseudonymous analyst CredibleCrypto tells his 343,800 Twitter followers that he expects Bitcoin to surge to a price of over $70,000 this year, an increase of approximately 135% from the current level.

“$70,000+ this year, in case I wasn’t clear before.”

According to CredibleCrypto, Bitcoin could, however, trade in a range before the major rally he expects kicks off.

“We got that strength and our green zone held [around the $29,000 price level]! That may very well have been our bottom- that being said this move up so far still looks corrective and we have a sharp rejection on lower time frames so do not be surprised if we chop around for a bit longer before the mega move up starts. Don’t lose sight of the big picture here and don’t flip bearish if we move down a bit from here either- anything above $25,000 is a gift.”

Source: CredibleCrypto/X

After rallying past the November 2021 all-time high of slightly above $69,000, the pseudonymous analyst says he expects Bitcoin to meet the first resistance at a price of over $100,000.

“$100,000+ is what I’m expecting for the end of the move that breaks prior all-time high. It will come a few months after we break the all-time high. If we break the all-time high this year, that could mean $100,000 this year or early next.”

Generated Image: Midjourney