Crypto Assets analyst Credible reveals the path for Bitcoin to reach new highs next month

Gate news, in the Crypto Assets market, precise price predictions always attract attention. Renowned Crypto Assets analyst Credible is known for his accurate predictions regarding Bitcoin prices. Recently, he has once again garnered widespread attention as he outlined a scenario where Bitcoin could break through the Sideways consolidation range and soar to new historical highs. This prediction has injected a dose of confidence into the market and has many investors filled with anticipation for Bitcoin's future trend.

1. Elliott Wave Theory Indicates Bitcoin Will Break Through in July

(Source: X)

Credible shared his latest insights on Bitcoin with up to 468,700 followers on the social media platform X. He pointed out that Bitcoin's trend seems to be following the Elliott Wave (EW) pattern. According to his analysis, Bitcoin will consolidate over the next few weeks and is expected to experience a strong breakout by the end of July.

Elliott Wave Theory is an advanced technical analysis method that attempts to predict future price movements by tracking crowd psychology. This psychology often manifests in repetitive wave patterns, providing analysts with a basis for determining market trends.

Credible stated: "Bitcoin has performed well in the past few days. As mentioned in previous updates, I believe we will test the green zone sooner or later, whether it is before or after reaching a local high." He further explained: "From an Elliott Wave perspective, this situation is ideal. While we can observe many other structures to complete this correction, those structures that lead to a greater degree of compression before expansion are always preferred, as a significant decrease in volatility/compression usually leads to a stronger breakout afterwards."

He emphasized: "We should follow the important levels (green areas and range highs) as areas worth paying attention to." According to Credible's chart, he seems to believe that Bitcoin will briefly surge above $110,000, then return to $100,000 in preparation for a new breakthrough. This suggests that Bitcoin may experience a brief pullback after reaching new highs, followed by another surge.

2. The Potential of the Altcoin Market and the Myth of Liquidity

In addition to Bitcoin, Credible also expressed an optimistic view on the altcoin market. He believes that despite liquidity concerns in the market, altcoins will still experience a strong rise. He pointed out that when Bitcoin was trading below $30,000, cryptocurrency investors also had the same liquidity concerns about Bitcoin, and now that Bitcoin's value has reached $108,417, it proves the potential of the market.

Credible confidently stated: "Don't worry about where the liquidity of altcoins comes from. At this stage, the cryptocurrency market is like a drop of tear in the ocean—there is a massive amount of liquidity out there." His remarks aim to dispel investors' concerns about the lack of liquidity in the altcoin market and emphasize the vast potential of the entire cryptocurrency market.

This also means that once Bitcoin establishes an upward trend and breaks through its historical high, its spillover effect may activate the entire altcoin market, bringing substantial returns to investors.

Conclusion:

The latest prediction from crypto assets analyst Credible outlines a clear path for Bitcoin to reach a new high in July. Utilizing Elliott Wave Theory, he points out that after a short-term consolidation, Bitcoin is expected to experience explosive growth by the end of July. At the same time, he expresses optimism about the potential of the altcoin market, believing that market liquidity is sufficient to support a strong rise in altcoins. Despite the market being full of variables, Credible's analysis undoubtedly provides important reference for investors and fills everyone with anticipation for the future of Bitcoin and the entire crypto assets market.