Bitcoin (BTC) has been experiencing a period of consolidation since February 28, leaving investors uncertain about the future. However, prominent trader Credible Crypto, now known as CrediBULL Crypto, has made a bold prediction that Bitcoin could reach $100,000 within 30 days after the next impulse starts. According to CrediBULL Crypto, Bitcoin’s previous impulse saw the price increase from $38,514 to $73,805 in just 50 days, resulting in a 91% gain from January 23 to March 13.
CrediBULL Crypto’s forecast is based on the Elliott Waves theory, which suggests that the bull market is made up of five waves, with three being “impulse” waves. The third wave is typically the most aggressive, leading to higher gains in a shorter time frame. With Bitcoin currently trading at $64,260, a rally to $100,000 would result in a 55% gain, albeit lower than expected. Nevertheless, the $100,000 level is seen as an important psychological resistance and a target that many investors are eagerly looking forward to reaching.
Competing traders have already planned their exit strategy, with some eyeing the $130,000 level as an initial target, while others, like Alan Santana, believe in an uptrend continuation to $150,000 per BTC. Despite these positive price predictions, Bitcoin has shown signs of weakness from a fundamental perspective, with miners starting to sell at a higher pace after years of operating in the red. Therefore, the future projections for Bitcoin will depend on positive developments and fundamental improvements amidst strong competition in the cryptocurrency market.
It’s important to note that the content provided on this site should not be taken as investment advice, as investing is inherently speculative and carries risks. While CrediBULL Crypto’s bullish prediction of a $100,000 Bitcoin price within 30 days has garnered attention, investors should exercise caution and conduct their own research before making any investment decisions. With uncertainties surrounding Bitcoin’s future, it is essential to stay informed and monitor market trends to make informed choices.
In conclusion, Bitcoin’s price has been range-bound for the past four months, leading to uncertainty among investors. However, trader CrediBULL Crypto has made a bold prediction that Bitcoin could reach $100,000 within 30 days after the next impulse starts, based on the Elliott Waves theory. While competing traders have set different price targets, Bitcoin’s fundamental weakness, such as miners selling at a higher pace, could impact its price trajectory. Investors should remain cautious and vigilant amidst the volatile cryptocurrency market to make well-informed investment decisions.