Bitcoin will pull over $100,000 in 2023 before ‘biggest bear market’ – trader

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bitcoin (BTC) will top $100,000 next year, but a record bear market will follow, according to a popular trader.

In a Twitter chat on October 22, Credible Crypto endorsed a theory that Bitcoin’s upcoming halving will also see macro lows of just $10,000.

BTC bulls only have to wait a year for $100,000

With a consensus calling for the fourth quarter of 2022 to be the end of the Bitcoin bear market in 2018, few are in the mood to call for a change in trend.

While a bold prediction from LookIntoBitcoin creator Philip Swift recently gave the current bear market a few months to live, most commentators continue to aiming for new lows.

For Credible Crypto, however, the really interesting territory lies further afield – but 2023 will be a major turning point.

After setting new all-time highs (ATH) of at least $100,000, BTC/USD will descend from its “blowing 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 at just $10,000 through 2025.

“Okay, probably in 2025 I think,” Credible Crypto responded to the initial prediction put forward by fellow trader and analyst Mr. Parabullic.

“First, the new ATH in 2023 – the 5th wave of the top above 100,000 – followed by the biggest bear market we’ve seen to date, which is worse than the current one in terms of time and of prizes – bringing us to the 10-14,000 that everyone is waiting for at the moment.

Another active social media trader, Crypto Tony, had a harder time agreeing, calling for a macro lower at the start of the next quarter, followed by a fresh uptrend.

From $10,000 Bitcoin to $2 Million Bitcoin

Elsewhere, others have given levels between $10,000 and $16,000 as likely price floors in the coming months.

Related: Global Recession Could Last Until Nearly 2024 Bitcoin Halves – Elon Musk

The $10,000 prize belongs to Filbfilb, co-founder of trading suite, Decentrader, while popular Crypto analyst Il Capo keep insisting that $14,000-16,000 will come in quickly after Bitcoin sees a relief bounce to around $21,000.

“All I see is a lot of shorts that should be tight,” he said. Told subscribers on October 21, then to suggest the rebound was now beginning.

“Shorting support is not a good idea. Send it to 21k. Then nuke it at 14k.

Longer term, meanwhile, asset manager Larry Lepard is betting on trading Bitcoin at a giant 2 million dollars per piece over the next six years.

BTC/USD was trading at around $19,200 at the time of writing, according to data from Cointelegraph Markets Pro and TradingView.

BTC/USD 1 hour candle chart (Bitstamp). Source: Trading View

The views and opinions expressed herein are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.


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