Popular cryptocurrency analyst under the pseudonym Credible Crypto believes that bitcoin may well update its price record as early as this year.
According to the analyst, bitcoin could repeat the impulse waves of growth seen in past bull cycles.
Credible Crypto recalled that in 2020 bitcoin just as long tried to overcome a powerful level of resistance, but after that quickly rose to new records.
“I keep hearing that it’s unrealistic for bitcoin to renew its price record this year. But I think you have to compare it to the last momentum in 2020.
Remember, it took bitcoin about three months to break the $10,000 level. But over the next two, it grew by another 90%.
And in another four months it set a price record, up 5 times from $10,000. So don’t tell me that something is impossible for bitcoin.
We’ll see bitcoin at new heights, most likely already this year,” the analyst wrote.
That said, Credible Crypto acknowledged that so far bitcoin is not showing a “perfect” retest of the $25,000 level to push off from it and go for new highs.
He also noted that assets do not always clearly repeat their previous behavior. Nevertheless, he is sure that the probability of a powerful impulse of bitcoin growth is very high.
Recall that according to analysts of investment bank JPMorgan, rise in gold prices may help bitcoin growth as well.