Bitcoin Price Set to Surge Past $70K: Analyst Predicts 130% Increase

• A widely followed crypto analyst and trader is predicting a triple-digit rally for Bitcoin (BTC) over the coming months, expecting it to reach over $70,000 this year.
• The pseudonymous analyst CredibleCrypto expects Bitcoin to meet the first resistance at a price of over $100,000 after rallying past the November 2021 all-time high of slightly above $69,000.
• He cautions that Bitcoin could trade in a range before the major rally he expects kicks off.

Analyst Predicts 130% Increase In Bitcoin Price

A widely followed crypto analyst and trader has predicted that Bitcoin (BTC) will surge by over 130% before the end of 2023. Pseudonymous analyst CredibleCrypto says he expects Bitcoin to reach a price of over $70,000 this year.

First Resistance Level At Over $100,000

After rallying past the November 2021 all-time high of slightly above $69,000, CredibleCrypto predicts that Bitcoin will meet its first resistance level at a price of over $100,000.

Potential For Range Trading Before Rally Begins

CredibleCrypto warns that before the major rally he expects kicks off, there is potential for range trading with Bitcoin fluctuating between certain prices.

Strength Of Green Zone As Indication Of Bottom

The strength of the green zone has been seen as an indication of a bottom and CredibleCrypto advises not to be bearish if there is a move down from current levels as anything above $25,000 should be seen as gift.

Big Picture Focus Is Key

In order to make sure traders don’t lose sight of the big picture here and get distracted by short term fluctuations in price action they should remember to keep focused on their long term goals and objectives with their investments in crypto assets like bitcoin.