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
