Bitcoin Could Skyrocket by up to 365% This Cycle, According to Crypto Trader – But There’s a Catch

Bitcoin’s price could experience a significant surge of up to 365% during this particular cycle, according to a well-known crypto trader. However, there is a catch attached to this optimistic projection. The trader, who goes by the pseudonym Credible Crypto, has a wide range of predictions for the cycle’s peak, estimating it to be anywhere between 55% and 365% from the current level. This would place the potential peak price of Bitcoin somewhere in the range of $100,000 to $300,000, with a previous prediction of around $150,000. Despite these bullish expectations, the trader also warns of an impending crash that could lead Bitcoin’s price to plummet to levels last seen in October 2020. Applying the Elliott Wave theory, the trader suggests that the upcoming correction will coincide with the completion of the final wave of a five-wave pattern that began in 2014. This correction, the trader believes, could be particularly harsh, with a possible drop to at least below $30,000. Furthermore, the trader speculates that Bitcoin may even reach the key level of $10,000 to $14,000 that many were anticipating a year ago, but never materialized. As of now, Bitcoin is currently trading at $64,490.