Bitcoin Will Soar Above $100,000 in 2023 Ahead of ‘Biggest Bear Market’ – Trader
Bitcoin (BTC) will top $100,000 next year, but a record bear market will follow, a popular trader believes.
In a Twitter discussion on October 22, Credible Crypto supported a theory that Bitcoin’s next halving will also see macro lows of just $10,000.
BTC bulls only need to wait a year for $100,000
With consensus calling for Q4 2022 to match the end of the 2018 Bitcoin bear market, few are in the mood to call a trend change.
While a bold prediction by LookIntoBitcoin creator Philip Swift recently gave the current bear market just months to live, most commentators continue to aim for new lows.
For Credible Crypto, however, the really interesting territory lies further ahead – but 2023 will represent a major turning point.
After setting new all-time highs (ATHs) of at least $100,000, BTC/USD will come down from its “blow-off top” in a way never seen before, he believes.
The next bear market will bottom even lower than this year’s $17,600, giving buyers a chance to enter the market as low as $10,000 as late as 2025.
“Agreed, think probably in 2025,” Credible Crypto responded to the original prediction made by fellow trader and analyst Mr. Parabullic.
“First, new ATH in 2023 – blowout of top 5th wave above 100k – followed by the biggest bear market we’ve seen yet, which is inferior to the current one in both time and price – takes us to the 10-14k that everyone is waiting for now.”
Another active social media trader, Crypto Tony, found it harder to agree, calling for a macro low early next quarter, followed by another uptrend.
From $10,000 Bitcoin to $2 Million Bitcoin
Elsewhere, others have given levels between $10,000 and $16,000 as likely floor prices in the coming months.
Related: Global Recession May Last Until Near 2024 Bitcoin Halving – Elon Musk
The $10,000 price tag belongs to Filbfilb, co-founder of trading suite Decentrader, while popular Crypto analyst Il Capo continues to insist that $14,000-16,000 will come in quickly after Bitcoin sees a relief back to around $21,000.
“All I see is a lot of shorts that should be squeezed,” he told followers on October 21 later suggests bounce started now.
– Cutting support is not a good idea. Send it to 21k. Then nuke it to 14k.”
In the longer term, asset manager Larry Lepard is betting on Bitcoin trading at a whopping $2 million per coin over the next six years.
BTC/USD was trading around $19,200 at the time of writing, according to data from Cointelegraph Markets Pro and TradingView.
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