A well-known crypto trader is predicting that Bitcoin (BTC) will reach its cycle top sooner than expected by many other digital asset analysts.
Credible Crypto, a pseudonymous analyst with a strong following of 364,200 users on the social media platform X, believes that BTC has been following the same cycle since 2018 and is on track to experience a blow-off top before 2025. This blow-off top is characterized by sharp price and volume increases followed by equally dramatic decreases.
This prediction contrasts with the popular four-year cycle theory, which suggests that Bitcoin started its most recent bull cycle in late 2022 and will peak in 2025/2026.
According to Credible Crypto, BTC is expected to reach a new all-time high in the first quarter of this year and surpass $100,000 by mid-2024, marking the end of Bitcoin’s current parabolic run. He anticipates a rapid and aggressive upward movement in the coming months as the market builds up to what he believes will be a significant blow-off top to conclude this multi-year cycle.
Moreover, Credible Crypto is warning that the first major secular Bitcoin bear market could begin by 2025, potentially catching many in the crypto space off guard.
At the time of writing, BTC is trading at $46,398, and industry experts remain divided on the timing and nature of Bitcoin’s future price movements.
