A closely followed crypto strategist is laying out a roadmap for Bitcoin (BTC) to hit his long-term target of $83,000.
Pseudonymous analyst Rager tells his 199,900 followers on the social media platform X that Bitcoin could rally close to $50,000 by next month.
Rager predicts the big move up will be followed by a steep correction down to the $30,000 level as BTC approaches its 2024 halving.
The halving, which slashes BTC miners’ rewards in half, is slated for April 2024.
According to Rager, Bitcoin will continue its uptrend after the halving en route to a new all-time high of $83,000 by 2025.
“$48,000 by mid-January, followed by a pullback to mid/low $30,000. Rally post-halving, new high in late 2024.
Peak-high price in early/mid 2025. Q3 2025 ends bull market.”Â
At time of writing, BTC is trading for $41,433, up over 11% in the past week.
Looking at the top smart contract platform Ethereum (ETH), Rager thinks that the leading altcoin is poised to move higher toward his upside target of $2,500.
“ETH slowly gaining strength over time
Eventually, price likely heads up toward $2,500 as a nice target.
Nice move this weekend but not always a fan of weekend pumps.”Â
At time of writing, Ethereum is worth $2,252, up over 4% in the last 24 hours.
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