A popular cryptocurrency analyst and trader, identified on Twitter as Credible Crypto, has stated in a YouTube video that the largest and third-largest cryptocurrencies by market capitalization, Bitcoin (BTC) and Ripple’s XRP are both on track to record new price all-time highs.
According to the belief of the crypto analyst, Bitcoin (BTC) is set to break above its price all-time high of $20,000 in a week or two weeks’ time.
Credible Crypto used the Elliot Wave Theory for his prediction. This theory aims to identify recurring wave patterns to forecast the behavior of market participants.
Read Also: Some Analysts Predict $2.00 for XRP, but Crypto Michael Has A Little Different Opinion
According to the analyst, the current trajectory of Bitcoin appears to indicate that the largest cryptocurrency is set to record a new price all-time high, believing that BTC will keep up the surging trend after attaining the milestone.
The crypto analyst and trader, who predicted the recent price breakout of XRP, also predicted that XRP and the altcoin market would replicate Bitcoin’s rally.
He then specifically stated that he sees the third-largest digital currency by market, XRP, targeting a new high of $4.10 by April 2021.
Conclusively, the analyst pointed out he remains long-term bullish on Bitcoin (BTC) as long as it maintains its stability above $13,000 support.
Credible Crypto noted:
“I do think we’re going to extend a lot higher than the all-time high before this parabolic move completes because of the wave structure that I’m seeing here… We may get a fifth [wave] at something like $32,000 before we get a 30% to 40% correction.”
[For XRP] “I mentioned that the minimum target for the major wave three was going to be around $0.60. We’ve hit that minimum target and we could definitely go higher. We’ve got $1.00 as the next major area of resistance. Then I’m expecting some sideways consolidation for a wave 4 before a major wave 5, which could absolutely extend [to $4.10].
Read Also: Crypto Analyst PlanB Updates Bitcoin S2F Model; Makes $288,000 Price Forecast For BTC
“One thing that I want to make very clear here is that in all prior times Bitcoin has broken an all-time high these alts have typically reached their all-time highs within two months… I’m expecting Bitcoin to break all-time high within the next week or two weeks and I suspect that XRP breaks its all-time high within the next one to two months after Bitcoin breaks its all-time high.”
HeraldSheets.com produces top quality content for crypto companies. We provide brand exposure for hundreds of companies. All of our clients appreciate our services. If you have any questions you may contact us. Cryptocurrencies and Digital tokens are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by our authors and the views expressed in them do not reflect the views of this website. Herald Sheets is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. Read full terms and conditions / disclaimer.