Bitcoin Analyst Says Bitcoin is Heading for $25,000 In A Month

Smart Contracter, a well-known trader in the cryptocurrency market, has revealed that the next target for Bitcoin is anything above $25,000. The trader said that Bitcoin would gain another 10% in price if it goes above $25,000.

It had been reported earlier in the week that the highly followed crypto analyst had predicted Bitcoin would plunge below $23,000 soon.

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Before the recent correction, a popular crypto trader had converted his crypto assets to stablecoins before re-entering the market.

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Since Bitcoin has retracted from a recent high of about $24,200 to $22,700 range, the trader believes the price of the most capitalized cryptocurrency is low enough for investors to dive back into the market once again.

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Smart Contracter, a prominent member of the Twitter platform, expressed his strong opinion on the subject, noting that the flagship cryptocurrency may still begin to decline after reaching the next target of $25,000.

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“There is a good chance that the W5 on BTC is underway, now taking out those $25,000 highs. Possibly, this will be the final push higher before we see a deeper decline in the next few months as we get closer to the end of the bull market. My opinion is to take advantage of it to the fullest extent possible," he wrote in his Twitter post. 

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Aside from this, Smart Contracter has disclosed that he has begun to accumulate Ethereum (ETH) and that the cryptocurrency appears to be preparing for a new surge in value.

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Dogecoin (DOGE) has been picking up strength against Bitcoin (BTC) over the past weeks, according to a trader who is also bullish on the meme coin.

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As can be seen from the chart, Bitcoin has been consolidating below the $25,000 resistance for some time now. Despite this, Investors King understands that the digital gold asset, as it is commonly referred to, might resume a rally upwards if it can survive a bearish breakdown of $22,500. 

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Despite the recent rise in price, investors are once again turning bullish on Bitcoin and other crypto assets as a result of the recent increase in the price of the cryptocurrency.

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It should be noted that in essence, while there are some worrying technical signs in the short term, a very bullish signal is also developing, which if it gains traction could eventually lead to a sharp rally upwards and perhaps a FOMO reaction.