Bitcoin $97,393.9In recent days, while entering the consolidation process, the famous crypto currency analyst Credible Crypto claimed that the price could make a big leap. Analyst said in a evaluation based on Elliott Wave Theory, the market has entered the fifth and last major wave of rise. According to this model, Bitcoin can value at least 52 %of its current levels and the price can reach $ 150,000.
Can Bitcoin reach $ 150,000?
Credible Crypto said that Bitcoin showed a similar movement with the previous loops and the rise trend that started in 2018 from $ 3,000 entered the final stage. According to the analyst’s estimates, Bitcoin’s price may rise rapidly from the current $ 98,500 levels. The target is determined as $ 150,000 in the first place, while the final summit may be slightly below $ 300,000.
According to Elliott Wave Theory, price movements proceed in the form of five main rise waves and three correction waves. Analyst says that the current process is the fifth and last wave. So, despite short -term fluctuations, the price of Bitcoin can maintain the rise trend in the long term.
Possible corrections and market risks
Analyst emphasizes that despite the rise of Bitcoin, the price may experience decreases in the short term. He states that a withdrawal of up to $ 80,000 should not cause panic, while the level of $ 70,000 may be one of the usual movements of the market. However, he adds that there is no definite expectation as to whether the price will go down to these levels.
Market structure and technical indicators are important for large investors to determine strategic purchase and sale points. For this reason, it is recommended that investors see possible retreats as part of the long -term rise trend. Closely monitoring technical analysis and market dynamics is critical to obtain maximum efficiency from price movements.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
