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**1. Bullish Prediction:** A pseudonymous #trader known as Credible Crypto has reiterated his bullish forecast for Bitcoin. He believes that Bitcoin will reach a new all-time high before the end of 2023.
**2. Potential Rally:** Credible #Crypto suggests that Bitcoin could rally by approximately 157% from its current level before the year ends. This would mean a significant price increase.
**3. Past Comparison:** The trader compares this potential move to a previous one when #Bitcoin surged from $16,000 to $60,000 in two months. He notes that there are four months left in the year to go from $28,000 to $70,000, which is a move of a similar magnitude.
**4. Consolidation Period:** Credible Crypto acknowledges that Bitcoin's consolidation period has been longer than expected, but he believes that longer consolidation periods can lead to more aggressive price expansions.
**5. Caution:** While expressing optimism, the trader also cautions that if Bitcoin continues to range narrowly for another two months, it could cast doubt on the bullish forecast. However, he still considers a new all-time high possible given the remaining four months in the year.
**6. Previous Prediction:** Earlier in the month, Credible Crypto predicted that Bitcoin would surpass its previous all-time high from November 2021 and #rally to over $100,000.
This summary highlights the trader's positive outlook on Bitcoin's price potential but also emphasizes the need to #monitor Bitcoin's price action in the coming months to validate this forecast.
$BTC
**2. Potential Rally:** Credible #Crypto suggests that Bitcoin could rally by approximately 157% from its current level before the year ends. This would mean a significant price increase.
**3. Past Comparison:** The trader compares this potential move to a previous one when #Bitcoin surged from $16,000 to $60,000 in two months. He notes that there are four months left in the year to go from $28,000 to $70,000, which is a move of a similar magnitude.
**4. Consolidation Period:** Credible Crypto acknowledges that Bitcoin's consolidation period has been longer than expected, but he believes that longer consolidation periods can lead to more aggressive price expansions.
**5. Caution:** While expressing optimism, the trader also cautions that if Bitcoin continues to range narrowly for another two months, it could cast doubt on the bullish forecast. However, he still considers a new all-time high possible given the remaining four months in the year.
**6. Previous Prediction:** Earlier in the month, Credible Crypto predicted that Bitcoin would surpass its previous all-time high from November 2021 and #rally to over $100,000.
This summary highlights the trader's positive outlook on Bitcoin's price potential but also emphasizes the need to #monitor Bitcoin's price action in the coming months to validate this forecast.
$BTC
