One crypto analyst maintains a contrarian bullish stance on Bitcoin (BTC) for the rest of the year despite a dramatic drop from all-time highs.
The closely followed crypto analyst Credible Crypto tells his 336,000 Twitter followers he foresees BTC hitting all-time highs (ATHs) in the next six months before the real bear market begins.
“Still expecting a new ATH and six-figure BTC by 2023 and believe we are likely back on our way down in 2024-2025 and in the depths of a bigger bear market than most have ever seen at that point.”
Based on BTC’s current price of $21,601 and its all-time high of $69,000, the analyst is expecting a roughly 219% explosion in less than six months.
Credible’s 2022 bull-run prediction contrasts with many in the space, including fellow analyst Kaleo’s forecast of a long bear trend that finally leads to rallies in late 2024 or 2025.
“Late 2024 / early 2025 we finally see a new Bitcoin ATH and six-figure BTC.
The NFT [non-fungible token] craze in 2025 – 2026 will be unlike anything we’ve ever seen before.”
According to Credible, if the adoption of crypto technology is anything like that of the internet, then investors in the space are very early. He quotes an excerpt from a report by Wells Fargo that compares crypto adoption to the rise of the internet.
“‘Internet use surged from 77 million in 1996 to 412 million in 2000. By 2010… internet use had grown to 1.98 billion, and today sits at 4.9 billion.’
‘The number of global cryptocurrency users reached 221 million in June 2021…’
You’re early… be patient.”
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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