Bitcoin: Analyst Predicts New Highs Despite Recent Pullback
The anonymous analyst known as Credible is standing firm on a unique outlook that Bitcoin (BTC) and digital asset markets will reach new highs soon.
Credible has assured his Twitter followers, which number around 340,000, that the recent decline in BTC from $30,000 is just a normal correction and part of a long-term parabolic rally.
Retests of key levels are common in crypto. The last major retest we had was at 19k before our rally to 30k+. A retest of 25k here would be logical and healthy.
Also, the longer we chop around below 30k the more time we have for *some* alts to pump. Not an "alt season", just a… https://t.co/lAGvncp5xI pic.twitter.com/qkVDqSY5O3
— CrediBULL Crypto (@CredibleCrypto) April 22, 2023
He believes that it’s common for pullbacks to occur while the value of BTC is going up and sees the current consolidation below $30,000 as an opportunity to build a base before rising. Based on his chart, he predicts that the value will reach about $45,000 by mid-July.
READ MORE: Bitcoin to Soar Around 1,850% to New All-Time Highs After Halving – PlanB
Credible believes that some short-term alt pumps could occur before BTC starts its next leg if the value remains below $30,000.
Bitcoin is presently valued at $27,416. Credible’s prior prediction was that BTC will surpass six figures earlier than anyone expected.
Unlike the usual view that Bitcoin is in a long-term bear market or accumulation phase, Credible disagrees and thinks this rally will not end in the $30,000-$40,000 range.
He is confident that once BTC reclaims these levels, it will not hang around but will head for new all-time highs instead.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
