Crypto Analyst Says Bitcoin Could Breakout 150% This Year and Hit an All-Time High

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CrediBULL Crypto, a widely followed pseudonymous crypto trader, claims that Bitcoin BTC/USD could hit a new all-time high this year based on historical precedents.

In a tweet last Wednesday, the crypto analyst indicated that BTC may replicate previous impulse waves such as the one seen in 2020.

The analyst, however, pointed out that the market has yet to get a perfect retest of the black support/resistance level at $25,200. Note that in 2020 we tested ($10,000) and wicked below to complete the new test, he wrote.

Meanwhile, BitMEX founder Arthur Hayessaid said last week that the macro environment was starting to look favorable for Bitcoin.

In an interview with Peter McCormack on an episode of “What Bitcoin Did”, Hayessaid said the US government would do what it usually does in a debt maturity crisis by waiting until the last moment before raising the limit. .

Also read: Bitcoin thief who stole nearly $5 million and was photographed in a bathtub full of cash gets 4 years in prison

Usually what happens is they delay, delay, delay Then, you know, they come to the date when the market starts to crash, and then they get the religion and [say,]Okay, yes, of course we were just going to raise the debt ceiling,’ he said.

Hayes added that raising the debt ceiling and issuing new cash to fund US government debt and potential financial disruptions in the coming months could provide the catalyst for an upward explosion for Bitcoin.

At the time of writing, Bitcoin was trading at $27,433, up 3% in the past seven days.

Now Read: Crypto Trader Predicts Dogecoin Rally If Bitcoin Hits All-Time High This Year: ‘Mother of All Alternate Seasons Will Follow’

Photo: Shutterstock

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