A well-known figure in the crypto trading community has cautioned that Bitcoin (BTC) may experience a significant downturn following its anticipated climb to new all-time highs. Credible Crypto, an anonymous analyst with a substantial following of 361,800 on X, suggests that historical trends indicate the likelihood of aggressive corrections following parabolic rallies during Bitcoin’s history. Credible Crypto alleges that parabolic rallies are driven by greed and irrational exuberance, factors that inevitably lead to destructive crashes. Hence, the analyst predicts that Bitcoin will first achieve new record levels before experiencing a substantial decline. The current trading price for Bitcoin is $43,323, showing a 160% increase since the start of 2023 but still down over 37% from its previous peak in November 2021.
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Crypto Trader Warns of ‘Aggressive Correction’ for Bitcoin (BTC) – Here’s When
