A popular crypto analyst is predicting things will go well for Bitcoin (BTC) and other digital assets this year before the sector plunges 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 that we have seen since Bitcoin’s inception (think dot-com bust but for crypto) followed by the next decade-plus long secular bull market for crypto akin to 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 might not happen 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 that it typically happens a few months after we break the old highs and should be under $300,000. That could mean that we see our high for this move in ‘24, yes. Whenever that parabolic advance ends, I expect that to be a multi-year top.”
Bitcoin is trading at $30,488 at time of writing. The top-ranked crypto asset by market cap is down 0.47% in the past 24 hours.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney