Bitcoin may reach new highs but could face a big drop, warns crypto expert Credible Crypto.
Bitcoin’s current price is $43,323, up 160% in 2023, but still 37% below its 2021 all-time high.
Renowned pseudonymous crypto analyst Credible Crypto, who has a substantial following on social media platform X, has shared his insights on Bitcoin’s current trajectory. He notes that there have been three or four instances in the history of Bitcoin of sharp drops that followed parabolic gains. The observations made by Credible Crypto emphasize the idea that market activities frequently elicit equal and opposite responses.
“For every action, there is an equal and opposite reaction.”
This applies to markets too.
If you think we are going to have a parabolic rally to 100k+ in a relatively short period of time then you must accept that there will be an equally aggressive correction that follows.…
— CrediBULL Crypto (@CredibleCrypto) December 27, 2023
Credible Crypto claims that excessive
