Crypto strategist Credible Crypto, Bitcoin $93,746.2He predicts that the current bull market will continue strong and has entered the fifth and final phase of its six-year bull cycle. It is estimated that Bitcoin may rise aggressively during this period and reach up to $200,000.
Bitcoin’s Fifth Wave Rising Begins
Based on the Elliott Wave Theory, Credible Crypto stated that Bitcoin is in the final stage of a five-wave rise. According to this theory, prices correct before the fifth wave and then show a parabolic increase.
Credible Crypto states that Bitcoin may begin a strong rise by completing this fifth wave in the coming months. In this process, Bitcoin may enter a new trend, experiencing an increase of approximately 60% from current levels.
Price Targets and Expectations
Credible Crypto says Bitcoin could move between $150,000 and $200,000 at highs. However, for a higher target the market needs to move aggressively.
The analyst stated that it is more likely that Bitcoin will rise to $ 200,000. If a longer-term rise occurs, it may be possible for prices to rise as high as $220,000. However, reaching the $300,000 target is seen as less likely.
As a result, as Bitcoin’s fifth wave rises strongly, speed and duration factors will also play critical roles in determining price targets.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
