Trader's Bullish Outlook on Bitcoin and Explosive 1,700% Altcoin Performance

Trader Sees Massive Potential in Altcoin

A well-known cryptocurrency analyst and trader is sharing optimistic views on a top-50 altcoin amid a market correction. Credible Crypto, an analyst with a large following, believes that the native token of the proof of work blockchain Kaspa (KAS) could experience significant gains after reaching new all-time highs in November.

In his assessment, Credible Crypto mentions that KAS is the only altcoin with a clear and bullish impulsive structure similar to Bitcoin. Despite opening the year at $0.00539, KAS is currently trading at $0.0995, marking an impressive increase of 1,746%.

Bitcoin’s Price Outlook

Regarding Bitcoin (BTC), Credible Crypto expresses doubt about the likelihood of the flagship crypto asset dropping to between $32,000 and $33,000. He points out that Bitcoin’s current price action resembles previous movements that led to bullish breakouts. The analyst cites examples of similar scenarios where Bitcoin defied expectations and surged to new highs.

What’s Next for Bitcoin?

Credible Crypto believes that the context surrounding Bitcoin’s recent price movement is comparable to previous bullish trends, indicating potential for continued upward momentum. While he acknowledges that things could change, he maintains his opinion that we are likely to see more of the same pattern in the future.