A Crypto Trader Predicts Bitcoin Will Reach its Cycle Top Sooner Than Expected
A well-known crypto trader, Credible Crypto, believes that Bitcoin (BTC) will reach its cycle top earlier than most analysts predict. According to him, BTC has been following the same cycle since 2018 and is on track for a blow-off top before 2025.
Understanding Blow-Off Tops
A blow-off top refers to a situation where there is a rapid increase in both price and trading volume, followed by a significant decrease. This theory contradicts the popular four-year cycle theory that suggests Bitcoin’s current bull cycle started in late 2022 and will peak in 2025 or 2026.
Credible Crypto’s Prediction
In late December, Credible Crypto stated that he expects BTC to surge to a new all-time high in the first quarter of this year and surpass $100,000 by mid-2024. He believes this will mark the end of Bitcoin’s current parabolic run and lead to a blow-off top.
“In the coming months, I expect further upward continuation at a faster pace than before as we approach what will be a blow-off top to conclude this multi-year cycle,” said Credible Crypto.
A Surprising Bear Market Prediction
Credible Crypto also predicts that the first major bear market for Bitcoin will begin by 2025, catching many in the crypto space off guard. At the time of writing, BTC is trading at $46,398.
Hot Take: Is Bitcoin’s Blow-Off Top Coming Sooner Than Expected?
According to Credible Crypto, Bitcoin’s blow-off top is approaching much sooner than anticipated by other analysts. He believes that BTC will reach its cycle top before 2025, contrary to the popular four-year cycle theory. If his prediction holds true, it could have significant implications for the crypto market and investor sentiment. However, only time will tell if this forecast proves accurate.
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