Bitcoin will shoot over $100K in 2023 before 'largest bear market' — trader

CointelegraphPubblicato 2022-10-23Pubblicato ultima volta 2022-10-23

Introduzione

New all-time highs are closer than many might think, says Credible Crypto, but so is a brutal bear market unlike any other.

Bitcoin (BTC) will top $100,000 next year but a record-breaking bear market will follow, a popular trader believes.

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In a Twitter discussion on Oct. 22, Credible Crypto endorsed a theory that Bitcoin’s next halving will also see macro lows of just $10,000.
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BTC bulls need only wait a year for $100,000
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With consensus calling for Q4 2022 to match the end of the 2018 Bitcoin bear market, few are in the mood to call a trend change.

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While a bold prediction from LookIntoBitcoin creator Philip Swift recently gave the current bear market just months to live, most commentators continue to target new lows.

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For Credible Crypto, however, the really interesting territory lies further ahead — but 2023 will constitute a major turning point.

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After setting new all-time highs (ATHs) of at least $100,000, BTC/USD will come down from its “blow-off top” in a way never seen before, he believes.

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The next bear market will bottom out even lower than this year’s $17,600, giving buyers a chance to enter the market at as low as $10,000 as late as 2025.

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“Agreed, probably in 2025 methinks,” Credible Crypto replied to the original prediction put forward by fellow trader and analyst Mr. Parabullic.
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“First, new ATH in 2023- blow-off top 5th wave above 100k- followed by the largest bear market we have seen yet that is worse than the current one in both time and price- taking us to the 10-14k that everyone is waiting for now.”
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Another active social media trader, Crypto Tony, found it harder to agree, calling for a macro low early next quarter, followed by a new uptrend.
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From $10,000 Bitcoin to $2 million Bitcoin
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Elsewhere, others have given levels between $10,000 and $16,000 as likely floor prices in the coming months.
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The $10,000 price tag belongs to Filbfilb, co-founder of trading suite, Decentrader, while popular analyst Il Capo of Crypto continues to insist that $14,000-$16,000 will swiftly enter after Bitcoin sees a relief bounce to around $21,000.

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“All I see is a lot of shorts that should be squeezed,” he told followers on Oct. 21, subsequently suggesting the bounce was now beginning.
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“Shorting support is not a good idea. Send it to 21k. Then nuke it to 14k.”
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Longer term, meanwhile, asset manager Larry Lepard is betting on Bitcoin trading at a giant $2 million per coin within the next six years.

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BTC/USD traded at around $19,200 at the time of writing, according to data from Cointelegraph Markets Pro and TradingView.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Letture associate

USDT Supply Shrinks by $5.5 Billion While Stablecoin Turnover Hits Record High

The supply of stablecoins has contracted for the first time in years, with total market capitalization falling 4.3% from its May peak to $308.5 billion. Despite this decline, June saw a record $1.83 trillion in adjusted transaction volume for stablecoins, a 60% increase from May. This divergence suggests a shift in usage patterns: less capital is sitting idle, while the remaining supply circulates more rapidly through payment and trading systems. Specifically, the supply of Tether's USDT decreased from approximately $189.54 billion to $184 billion between May 1 and July 29, while Circle's USDC supply fell from $77.27 billion to $72.41 billion. Part of this capital appears to have moved into tokenized Treasury products, a sector whose value has grown to over $16 billion, partly driven by regulations like the 2025 GENIUS Act that prohibit interest payments on payment-focused stablecoins. Transaction velocity is emerging as a key metric, with stablecoins now turning over about six times per month—double the rate from two years ago. USDC, despite having a smaller supply than USDT, processed about $1.21 trillion in adjusted volume in June, leading in settlement activity. While a significant portion of on-chain volume may not represent genuine economic payments, identifiable real-world payments have grown sharply, reaching an estimated $390 billion in 2025. The data indicates stablecoins are evolving from static collateral into active financial infrastructure.

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USDT Supply Shrinks by $5.5 Billion While Stablecoin Turnover Hits Record High

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