The post Here’s When Bitcoin (BTC) Price Might Initiate Massive Bull Run appeared first on Coinpedia Fintech News
Bitcoin, the leading cryptocurrency, has been trading within a relatively narrow range of $38,000 to $30,000, leaving investors uncertain about their next move. However, according to popular crypto trader Credible, this consolidation phase may be laying the groundwork for a dramatic and rapid price surge.
Also Read: US CPI is Bullish; Meme-Season Continues-Will Bitcoin’s (BTC) Price Make it to $30K?
Building a Base for Parabolic Growth
Credible, in a recent video, suggests that Bitcoin’s current consolidation is indicative of a parabolic rip that could potentially propel the cryptocurrency’s value to new heights. He believes that Bitcoin might correct to as low as $25,000 before triggering the next phase of its rally. This aligns with the pattern observed in previous parabolic movements, where significant consolidations and slow ascents often precede explosive surges.
Narrow Trading Range and Future Expectations
Credible predicts that Bitcoin will continue to consolidate within a narrow trading range over the next two months, setting the stage for an eruption toward new all-time highs. Drawing a parallel to Bitcoin’s previous price action, he anticipates a similar move from $19,300 to $30,000, potentially driving Bitcoin’s value into the $40,000 range.
Despite the cautious stance held by many analysts, Credible asserts that once Bitcoin reaches the parabolic surge zone of $40,000 to $50,000, nothing will hinder its path toward new all-time highs before 2024.
The question arises: Could Bitcoin even reach $100,000 before the next halving? And can it continue to rise amidst banking crises, debt ceilings, inflation, and regulatory concerns? These factors add intrigue to Bitcoin’s future trajectory.
Could His Predictions Come True?
Currently, Bitcoin is trading at $27,683, but investors will closely monitor its movements to witness whether Credible’s predictions materialize. With his analysis suggesting a promising path for Bitcoin’s price, market participants eagerly anticipate the potential parabolic surge that could reshape the cryptocurrency landscape.
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