A crypto strategist known for making timely Bitcoin and altcoin calls is outlining a potential path for BTC to end the current bull market with a bang.
Pseudonymous analyst Credible Crypto tells his 65,900 YouTube subscribers that Bitcoin appears to be in the fifth and final leg of its secular bull market that began about six years ago.
[adinserter block="1"]The trader practices the Elliott Wave theory, which states that a bullish asset tends to witness five-wave rallies with wave five acting as the final leg up prior to a correction.
According to Credible, Bitcoin could witness a parabolic surge in the coming months to complete its fifth and final wave.
“So we’re in the final leg of the final leg, in my opinion, of the cycle that started back here in 2018 at $3,000 Bitcoin. Within this final fifth wave, again the idea is that if this final fifth leg up has started, which at this point it seems like it has, it should be rather aggressive…
The idea is that this fifth wave should generally be a blow-off top.”
The trader is also unveiling his bull market price targets for Bitcoin, predicting that BTC could realistically surge by nearly 60% from current levels before transitioning to a new trend.
“We could see this move up very aggressively. And the longer that we take down here to move up, that means the higher we’re going to go. So again, I previously said above $100,000… $150,000 is realistic based on what we’ve seen so far. But we could push up to $200,000.
We could even push up to $250,000 with my absolute max for this cycle being $300,000. I don’t think we’ll get close to $300,000 but we could see $200,000 to $220,000.
It all just depends on how aggressively we move up and the amount of time we take to move up. The longer that we take to finish off this move, the higher we’re going to go.”
At time of writing, Bitcoin is worth $95,075.
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