The world of cryptocurrency has been abuzz with anticipation following key insights from several noteworthy crypto analysts. They have put forth intriguing forecasts regarding the foreseeable rise of Bitcoin, the flagship of cryptocurrencies. Interestingly, despite Bitcoin’s somewhat lackluster recent performance and unremarkable price, it has persisted in a consolidation phase ever since its halving occurred. However, these crypto experts envision Bitcoin embarking on an ascent to surpass previous benchmarks, possibly reaching an unprecedented six-figure all-time high.
Renowned crypto analyst, CrediBULL Crypto, shared his predictions on a popular social media platform, with the theory that Bitcoin’s value could escalate up to a remarkable $100,000. According to him, this upcoming surge is primed to commence within the subsequent seven to ten days, with Bitcoin set to “absolutely giga send” once this period arrives, in his own words. His prediction, brimming with optimism, hints that Bitcoin could be on the brink of unprecedented growth.
In dismissing recent skepticism, CrediBULL Crypto reassured investors by referencing the “brutal” price correction Bitcoin had encountered following its halving, which caused a significant 20% cut in its value. Despite enduring such losses, he is of the strong opinion that a similar reduction in price is unlikely to recur, given its current position.
Adding more specificity to his forecast, CrediBULL Crypto maintains that Bitcoin’s decline is now capped at $60,000, realistically asserting that the digital currency cannot plummet below the range of $62,000 and $63,000. Regardless of how the market unfolds, he anticipates significant growth in the value of Bitcoin within the forthcoming ten days, culminating in a climax of $100,000.
Further solidifying his beliefs, CrediBULL stated in another web entry that Bitcoin’s prospects seemed promising. He conveyed his theory that the market bears would find their positions untenable once Bitcoin eclipses the asks above its current price. CrediBULL also observed a declining trend in Bitcoin’s open interest due to the early coverage of short positions, and the return of the spot premium, a first since May 20th.
Interestingly, in an earlier speculative statement, CrediBULL had foreseen Bitcoin’s pricing to dwindle to $66,000. This was to be a minor drawback in the larger scheme of things that would eventually witness Bitcoin’s price skyrocketing above $71,000, following the price correction. Speculating that the decrease to $66,000 has transpired, CrediBULL stipulates that the time has come for Bitcoin’s upward trek to commence.
Further adding to this optimistic wave, crypto analyst Egrag Crypto put forth an even more bullish price prediction for Bitcoin. He speculated the digital currency’s next target to be around the $173,000 mark. He made this claim drawing parallels between Bitcoin’s ongoing performance and its track record during the 2017 market cycle when it showed a similar pattern of hanging around the Fib 1.0 mark.
Egrag identified a pattern with Bitcoin posting a series of four monthly candles, culminating in a fifth which massively accentuated its value back in 2017. He anticipates an echo of this trend, with Bitcoin set to release a similar fifth explosive candle in July, thereby repeating the pattern from 2017.
With Bitcoin currently standing at $69,800 (according to the BTCUSD index on Tradingview.com), the world of crypto trading looks forward to these predictions with bated breath. Only time will reveal whether these estimates from revered experts will bear fruit and whether Bitcoin will continue upon its upward trajectory or deviate entirely, creating monumental shifts in the world of cryptocurrency.
