A crypto analyst known for his unconventional predictions believes that Bitcoin (
BTC
) is on the verge of experiencing a significant surge in value.
Using the pseudonym Credible, the analyst shares with his 396,100 followers on the social media platform X that Bitcoin may see a slight dip before embarking on a major upward trend.
Credible suggests that BTC could drop to as low as $62,000 before initiating a parabolic rally to reach new record highs.
“The downside risk is now limited to $60,000 (invalidation) and realistically should not go below $62,000-$63,000 (if at all), with a strong chance that this level will be surpassed as well. I predict that within seven to 10 days, we will witness a significant surge in BTC. Target: $100,000+.”
The analyst anticipates that the Bitcoin rally will prompt crypto traders to sell off their alternative coin holdings out of fear of missing out.
“When BTC experiences a massive surge in value, attracting the attention of the entire market, liquidity will start flowing out of the numerous altcoins (including DOGE) and into BTC as it begins its upward trajectory.”
In the short term, Credible envisions another rally pushing Bitcoin above $70,000 before a correction back to $64,000, followed by a surge to new all-time highs.
“Manifesting.”
At the time of writing, Bitcoin is valued at $69,577.
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