Popular crypto trader Credible Crypto, Bitcoin He thinks its price is on track to reach an all-time high. However, the trader also underlined that BTC has a risk of experiencing an aggressive correction in the future.
Credible Crypto shared four examples showing Bitcoin recording dramatic declines following parabolic rallies since day one.
According to the analyst, even if BTC makes a parabolic rally that could reach $ 100,000 in a relatively short time, it has the potential to record a correction at a similar rate.
Parabolic rallies occur because of greed and irrational exuberance, and greed and irrational exuberance are what set a market up for devastating crashes. These go hand in hand. You can’t have one without the other.
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Koinfinans.com As we reported, Credible Crypto predicts that Bitcoin will hit all-time highs before crashing.
At the time of writing, BTC was trading at $43,323. The leading cryptocurrency by market cap is up more than 160% since the beginning of 2023, but is trading more than 37% below its all-time high reached in November 2021.