A popular crypto analyst predicts Bitcoin (BTC) and other digital assets will do well this year before the industry slides into a “devastating” bear market.
Pseudonymous analyst Credible Crypto outlined his predictions in response to a Twitter prompt on Monday asking Twitter users what their most unpopular crypto opinions are.
says the trader
“New all-time highs on BTC in 2023, followed by the longest and most devastating bear market we have seen since the creation of Bitcoin (think dotcom bust but for crypto) followed by the next decade-plus secular bull market for crypto-like what we’ve seen on tech stocks since 2008.”
Credible Crypto thinks Bitcoin’s new all-time highs will materialize this year, but acknowledges that they may not take place until 2024.
“I expect this next parabolic advance to take us to new all-time highs this year. I don’t know where the parabolic advance will end, except it usually happens a few months after we break through the old highs and should be below $300,000. That could mean we see our high for this move in ’24, yes. When that parabolic advance stops, I expect that to be a multi-year top.”
Bitcoin is trading at $30,488 at the time of writing. The top-ranked crypto asset by market capitalization is down 0.47% in the past 24 hours.
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Image generated: Midway through the journey