Analyst Says BTC Is Angling For Six Digit Rally In Next Year

A popular crypto analyst has predicted that Bitcoin (BTC) is on a bullish path to reach six figures in 2023. Known pseudonymously as Credible, the analyst made the prediction on his Twitter handle while addressing his over 300k followers. The recent bear market began in late 2021, with Bitcoin dropping over 60% from its previous high. However, Credible believes that the crypto giant is experiencing a correction period that’ll see it rally up to six figures. Related Reading: Sam Bankman-Fried Eyes On Bidding For Celsius Assets How The Crypto Market Has Been Faring The entire crypto market experienced bullish moments during the pandemic. Many analysts attributed the high interest to excess money in circulation. However, the market has declined since the start of 2022 due to many macroeconomic factors. Bitcoin fell over 60% from its all-time high of $68,000, with altcoins following the trend. Inflation statistics and lending rate hikes are major causes of the market’s volatility. However, the market seems to be stabilizing in the past few weeks. BTC remained sturdy after the Feds announced another rate hike last Wednesday, seeing a minor price decrease. While it has enjoyed some short wins and nose-dives, it has remained in the $19,000 range. Why Is Credible Bullish On BTC’s Growth Next Year? Given the current market situation, some analysts believe the market could get worse before getting better. However, Credible believe...