bitcoin (BTC) will top $100,000 next year, but a record bear market will follow, according to a popular trader.
In a Twitter chat on October 22, Credible Crypto endorsed a theory that Bitcoin’s upcoming halving will also see macro lows of just $10,000.
BTC bulls only have to wait a year for $100,000
With a consensus calling for the fourth quarter of 2022 to be the end of the Bitcoin bear market in 2018, few are in the mood to call for a change in trend.
For Credible Crypto, however, the really interesting territory lies further afield – but 2023 will be a major turning point.
After setting new all-time highs (ATH) of at least $100,000, BTC/USD will descend from its “blowing top” in a way never seen before, he believes.
The next bear market will bottom even lower than this year’s $17,600, giving buyers a chance to enter the market at just $10,000 through 2025.
“Okay, probably in 2025 I think,” Credible Crypto responded to the initial prediction put forward by fellow trader and analyst Mr. Parabullic.
“First, the new ATH in 2023 – the 5th wave of the top above 100,000 – followed by the biggest bear market we’ve seen to date, which is worse than the current one in terms of time and of prizes – bringing us to the 10-14,000 that everyone is waiting for at the moment.
Another active social media trader, Crypto Tony, had a harder time agreeing, calling for a macro lower at the start of the next quarter, followed by a fresh uptrend.
From $10,000 Bitcoin to $2 Million Bitcoin
Elsewhere, others have given levels between $10,000 and $16,000 as likely price floors in the coming months.
The $10,000 prize belongs to Filbfilb, co-founder of trading suite, Decentrader, while popular Crypto analyst Il Capo keep insisting that $14,000-16,000 will come in quickly after Bitcoin sees a relief bounce to around $21,000.
“Shorting support is not a good idea. Send it to 21k. Then nuke it at 14k.
Longer term, meanwhile, asset manager Larry Lepard is betting on trading Bitcoin at a giant 2 million dollars per piece over the next six years.
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