{"id":209872,"date":"2023-12-10T13:46:22","date_gmt":"2023-12-10T08:16:22","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=209872"},"modified":"2023-12-10T13:46:22","modified_gmt":"2023-12-10T08:16:22","slug":"crypto-strategist-predicts-imminent-bitcoin-rally-to-50000-heres-his-timeline-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/crypto-strategist-predicts-imminent-bitcoin-rally-to-50000-heres-his-timeline-crypto-news\/","title":{"rendered":"Crypto Strategist Predicts Imminent Bitcoin Rally to $50,000 \u2013 Here\u2019s His Timeline – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

An analyst who continues to grow his following with timely Bitcoin (BTC<\/a>) calls believes that the crypto king is poised to hit $50,000 soon.<\/p>\n

Pseudonymous trader Credible Crypto tells his 358,300 followers on the social media platform X that he\u2019s looking at Bitcoin\u2019s spot and derivatives market data after BTC rallied to a fresh 2023 high of $44,700.<\/p>\n

According to the analyst, Bitcoin is unlikely to witness a significant correction as BTC continues to flash signs that the uptrend will continue.<\/p>\n

\u201cRecent pop was a short squeeze. This is the same playbook we have seen for this entire rally \u2013 spot limit absorption followed by a short squeeze, rinse and repeat all the way up. <\/em><\/p>\n

So open interest is now actually BELOW the \u2018new baseline\u2019 which is very, very healthy \u2013 this means there isn\u2019t much leverage here at these prices to flush out, so don\u2019t expect some major dip to magically manifest. <\/em><\/p>\n

Second, funding has nearly completely reset now as well \u2013 even lower than it was prior to this little pop. Once again, a very healthy sign. All in all, this move-up has room to run. <\/em><\/p>\n

Again, expecting $50,000 by [this] week so this is exactly the type of data I want to see for that expectation to come to fruition.\u201d\u00a0<\/em><\/p>\n

Source: Credible Crypto\/X<\/a><\/figcaption><\/figure>\n

At time of writing, Bitcoin is trading for $43,987, indicating an upside potential of about 13% in seven days should the trader\u2019s prediction materialize.<\/p>\n

Although Credible Crypto believes that a $50,000 price tag is in the cards for Bitcoin in the short term, he predicts that BTC will pull back toward the $42,000 level before the next leg up.<\/p>\n

\u201cI am still expecting that we sweep our local <\/span>BTC<\/span> lows but think the downside is limited after that. Below is what I am looking for at the moment.\u201d\u00a0<\/span><\/em><\/p>\n

\"Image\"
Source: Credible Crypto\/X<\/a><\/figcaption><\/figure>\n

Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n

\n

Check Latest News Headlines<\/span><\/a><\/p>\n

&nbsp<\/p>\n

<\/p>\n

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n

Featured Image: Shutterstock\/Master1305<\/em><\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

An analyst who continues to grow his following with timely Bitcoin (BTC) calls believes that the crypto king is poised to hit $50,000 soon. Pseudonymous trader Credible Crypto tells his 358,300 followers on the social media platform X that he\u2019s looking at Bitcoin\u2019s spot and derivatives market data after BTC rallied to a fresh 2023 […]<\/p>\n","protected":false},"author":2,"featured_media":42337,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-209872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=209872"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209872\/revisions"}],"predecessor-version":[{"id":209874,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/209872\/revisions\/209874"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/42337"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=209872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=209872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=209872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}