A widely followed crypto trader is anticipating bullish price action for Bitcoin (BTC), XRP and one Ethereum (ETH) rival.
The pseudonymous trader known as Credible Crypto tells his 338,000 Twitter followers that a new all-time high (ATH) for Bitcoin is closer than everyone expects, and thinks the narrative of a halving-driven rally in mid-2024 is probably overrated.
“For those not expecting new ATH til ’24 or ’25 cause of [the] halving:
You know there will only be 21 million BTC – that’s why you buy/hold BTC now. This info is known and therefore priced in.
You also know there’s a halving every four years.
What makes you believe the former is priced in but the latter isn’t?”
Since the trader is expecting Bitcoin to rally hard in the coming months, he’s also bullish by extension on several altcoins. According to Credible, Ethereum challenger Hedera (HBAR) is potentially one of the best opportunities on the altcoin market.
Credible compares Bitcoin’s price action over the last couple years to artificial intelligence-focused altcoin Fetch.AI (FET), and notes that HBAR could potentially be in for more upside if it follows the same pattern.
“If you’re bullish on BTC for the next six+ months, there’s probably no better time to load up on HBAR than now. Can’t expect much better of a high timeframe entry if you missed the tap of $0.03 in my opinion. I’ve added to my stack at $0.06 for the first time in a long time and won’t sell until new ATH.”
The trader is currently targeting a short-term price of around $0.08, about 10% above current price levels at time of writing.
“First short term target (red line) from my vid update on HBAR hit. Now looking for a push up to the second target at around $0.08.”
Credible is also bullish on XRP, the token used for Ripple’s payment network. He sees XRP doing well particularly on the back of the remittance industry.
“There’s a reason Ripple decided to focus on this particular niche with XRP. There are a lot of things you can do with a cheap and fast crypto, but cross border remittances is a massive market that is ripe for disruption by a superior tech like crypto.”
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