A crypto analyst, known for his unconventional predictions, believes that Bitcoin (
BTC
) is on the verge of a significant upward surge.
Using the pseudonym Credible, the analyst informs his 396,100 followers on the social media platform X that Bitcoin may experience a slight drop before embarking on a major rally.
Credible suggests that BTC could decrease to as low as $62,000 before initiating a strong upward trend to reach new record highs.
He states, “The downside risk is limited to $60,000 (as a worst-case scenario) and realistically may not drop below $62,000-$63,000. I anticipate this level to be reached within the next seven to 10 days before Bitcoin skyrockets. Target: $100,000+”
According to Credible, the impending Bitcoin rally is expected to prompt traders to sell off their alternative coin holdings due to the fear of missing out.
“If Bitcoin shows a remarkable surge in value, attracting widespread attention and causing liquidity to flow out of the numerous altcoins, including DOGE, the focus will shift to BTC as it starts to soar.”
In the short term, Credible predicts that Bitcoin will surpass $70,000 before experiencing a correction back to $64,000, followed by another surge to reach new all-time highs.
“Anticipating the future.”
At the time of writing, Bitcoin is valued at $69,577.
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