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Crypto Expert Anticipates Possible Price Increases for Bitcoin ($BTC) and DeFi Token Curve ($CRV)
Prominent cryptocurrency analyst Credible Crypto has made some daring forecasts regarding the prices of Bitcoin ($BTC) and Ethereum-based Curve ($CRV). With a substantial following of over 340,000 on the social media platform X, the analyst indicates that Bitcoin is poised for a notable increase in value, with monthly candles surpassing $10,000. This suggests that the cryptocurrency’s price could rise by that amount within a month. Despite Bitcoin’s recent decline below the $30,000 threshold, Credible Crypto asserts that this does not change the broader perspective on the longer timeframes. Nevertheless, he recommends exercising some patience before observing such a candle.
Credible Crypto’s positive outlook coincides with a growing number of analysts adopting a bullish stance on BTC. The CEO of a cryptocurrency financial services giant managing over $2 billion in assets has recently indicated that Bitcoin might reach the $100,000 level by 2025, referencing historical trends and the effects of the halving.
Additionally, London-based multinational banking and financial services company Standard Chartered has issued a significant bullish forecast for BTC, proposing that the price of the leading cryptocurrency could rise to $50,000 this year and potentially exceed $120,000 by the end of 2024.
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Alongside Bitcoin, Credible Crypto has also focused on Curve ($CRV), a decentralized finance (DeFi) altcoin. He noted that many assets’ short positions are currently at a loss, suggesting that the bottom may have been reached for CRV. Despite a recent decline of over 20% in its price, with CRV now trading at $0.58, the analyst believes there is potential for recovery as market dynamics evolve.
However, it is important to mention that the recent drop in CRV’s price was caused by an exploit in the Vyper programming language, which resulted in hackers draining millions from its stablecoin pools.
As the cryptocurrency market remains unpredictable, these forecasts and analyses provide valuable insights for investors and enthusiasts. While the future remains uncertain, the crypto community continues to closely observe the movements of Bitcoin and other altcoins to make well-informed decisions in this constantly shifting environment.
The post Crypto Analyst Predicts Potential Price Rallies for Bitcoin ($BTC) and DeFi Token Curve ($CRV) appeared first on BitcoinWorld.
