Bitcoin Awaits Meteoric Rally – New BTC Target Revealed

It’s been just revealed the fact that there is a new Bitcoin rally around the corner soon. Check out the latest reports about BTC and the new price targets that we could see.

At the moment of writing this article, BTC is trading in the red, and the king coin is priced at $27,879.

A popular crypto strategist says a massive Bitcoin (BTC) rally to a fresh all-time high is already underway.

Psuedonymous analyst Credible said recently that he believes Bitcoin is in the early stages of a big bull run following a long bottoming out period last year.

According to Credible, Bitcoin’s price action between June to December 2022 is the longest consolidation period for BTC in the last four years.

“Expansion has begun. This time following a consolidation period that was ~30% longer than our last major rallies in 2019 and 2020. If you thought those rallies were strong, wait till you see this next one.”

Credible previously said that the period of relatively low-volatility consolidation is required to build a stable base for the ensuing BTC rally.

“It’s supposed to be boring – it’s part of the process. The more boring it gets the better it is for the coming expansion.”

Hedge fund boss Anthony Scaramucci says one major catalyst is likely to cause a wider adoption of crypto assets.

In a new interview with Yahoo Finance, the SkyBridge Capital CEO says the fallout from the US banking failures will prompt more people to invest in top crypto assets like Bitcoin (BTC) and Ethereum (ETH).

“You have a regional banking crisis in the United States. And there is a crisis of confidence related to deposits and how the Fed is going to handle these things. There will be a move, maybe slowly in the beginning, but there will be a move for diversification into more digital assets, specifically things like Bitcoin and Ethereum.”