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.
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