An experienced crypto analyst predicts a potential surge in Bitcoin (BTC) price, with a target of $68,000.
Credible Crypto, a well-known analyst, shares his insights with over 423,300 followers on X, suggesting an upcoming relief rally for Bitcoin and other altcoins.
However, he cautions that this rally may be short-lived, with Bitcoin expected to resume its bearish trend soon.
“I believe a short-term relief rally is imminent, but I still see a larger correction to the downside in the grand scheme of things.”
According to his analysis, Bitcoin could potentially reach $68,000 before dropping to levels below $48,000.
As of now, Bitcoin is trading at $61,919.
When looking at Ethereum (ETH), Credible Crypto notes that the order book indicates support for a marketwide bounce. He mentions that the spot investors are placing buy orders, preventing ETH’s price from declining further.
“The bid depth for ETH looks promising, increasing the likelihood of a marketwide relief soon.”
Currently, Ethereum is valued at $2,409.
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