• The popular trader Credible Crypto suggests that Bitcoin (BTC) will hit new all-time highs in 2023 and October is the favorite month for it.
• To reach its peak of $69,000, BTC/USD needs to have increasingly larger green monthly candles to keep it in line with previous impulse periods.
• Credible Crypto believes that a gap of $40,000 from current levels should be covered within a few monthly candles if this is a parabolic advance and estimates October as a possible time frame.
Bitcoin Price Prediction
Popular trader Credible Crypto recently suggested that Bitcoin (BTC) will hit new all-time highs in 2023, with October being the favorite month for it.
Credible Crypto argues that for BTC/USD to reach its peak of $69,000, there needs to be increasingly larger green monthly candles that would keep it in line with previous impulse periods.
If this is considered as a parabolic advance then Credible Crypto believes that the gap of $40,000 from current levels should be covered within a few monthly candles. He estimates October as one possible time frame.
Retesting Monthly Support
Bitcoin has already put in a solid performance this month and has successfully retested support on monthly timeframes with $25,000 possibly being used as a springboard for future advances.
Other Traders Optimistic
Other traders are also optimistic about Bitcoin’s potential return to record high prices according to recent reports by Cointelegraph.