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Crypto Analyst Predicts Bitcoin To Reach $130,000, Here’s When

Amid the recent Bitcoin (BTC) price rally, cryptocurrency analyst CryptoCon has shed his optimism about the price action of the crypto asset while highlighting a bold prediction.

Bitcoin To Experience Pullback Beforehand

On Tuesday, December 26, CryptoCon took to X (formerly Twitter) to share his latest projections on Bitcoin. According to the analyst, the price of BTC will reach the $130,000 mark, but it might undergo a correction beforehand.

In the X post, CryptoCon reiterated his opinion that, many weeks ago, Bitcoin peaked at roughly $45,000. He further highlighted that the LMACD includes another layer with a cross of the “Descending Cycle Mid-Top Trend.”

He suggests that Bitcoin is about to experience a “significant pullback.” The analyst highlighted that the “correction ranges from 38% to 52%” from its peak of around $45,000.

In addition, CryptoCon predicts that a period of correction lasting “up to five to six months” will follow the correction. He added that these declines would cease in May 2024, as he sees an upward trajectory despite his correction projections.

Bitcoin

The crypto analyst highlighted the “Green Year Accumulation” phase in his projections. He then underscored the opportunity this correction offers investors who couldn’t take advantage of favorable entry during this phase. 

He sees an opportunity for investors to enter the Bitcoin market at a “more reasonable” price during this possible correction. However, overleveraged long may suffer due to the potential correction from the recent highs. 

Furthermore, the analyst continued by pointing out the advantages of Bitcoin’s future performance. He expects Bitcoin to reach a fresh peak in November or December 2025.

CryptoCon’s predictions for BTC to reach an all-time high by the time above were based on the “Halving Cycles Theory.” He then asserted that after careful price experiments, he expects BTC to be around “$130,000 by the end of 2025.”

Rise In BTC’s Addresses Holding Millions Of Dollars

A recent report has revealed an uptick in the total number of Bitcoin millionaires in 2023. Data from BitInfoCharts shows the number of BTC millionaires has increased by 246% in 2023.

Currently, Bitcoin millionaires are around 97,497, according to the data provided by the platform. This indicates a notable growth compared to this year, with 23,795 addresses worth at least $1 million.

Furthermore, BitinfoCharts has divided these 97,497 millionaires into two distinct parts. Addresses that contain at least $1 million are 90,040, while those containing more than $10 million make up for the rest.

This uptick can be traced back to the rise in BTC’s price this year, which has seen a year-to-date gain of nearly 158%. Earlier this year, the price of BTC was around $16,000.

Bitcoin

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Shiba Inu Price Prediction: Analyst Forecast 2X By Mid-December

Popular cryptocurrency market analyst Captain Faibik has recently shed more light on his predictions toward the price of Shiba Inu (SHIB) and revealed where the cryptocurrency ought to be by mid-December. 

Crypto Analyst Optimism On Shiba Inu

The crypto analyst took to his official X (formerly Twitter) handle to share his projections on the price movement of Shiba Inu. According to the analyst’s post and token chart, SHIB has crossed a trendline near the $0.00000839 price level.

Due to this data, the analyst believes the crypto asset is going through a significant retest. Captain further highlighted that if the retest is prosperous, the token might experience a bullish rally of up to 2X by mid-December.

SHIB has broken out of a Major Trendline and is currently undergoing a Retest. If the retest is successful, we might witness a Bullish Rally up to 2x by mid-December. 

Additionally, the analyst highlighted that the 2X price surge could take the token as high as $0.00001678. Nonetheless, a careful look at the chart on the X post reveals just how difficult it will be for this retest to succeed. 

So far, Shiba Inu’s price has exceeded the $0.000016 threshold just once since May 2022. This was during a brief spike that occurred in August 2022.

Shiba Inu

Also, the crypto asset price growth has not been as impressive as other altcoins. Shiba Inu’s year-to-date (YTD) price growth is up 4.97%.

However, SHIB is currently trading at $0.0000086, up by 22% over the last 24 hours, which suggests a more optimistic outlook. Its market capitalization is approximately $5.2 billion, with a trading volume of $162 million over the past 24 hours.

The crypto market analyst’s predictions were fueled by Shiba Inu’s grit, which has enabled it to regain its brilliance in the face of numerous obstacles. His predictions seem to have sparked increased confidence in the Shiba Inu community.

Algorithm Prediction Of The Crypto’s Price By December

Captain Faibik’s shared one of the other predictions for Shiba Inu’s price by December. Recently, price algorithm prediction from crypto analytics firm CoinCodex has also predicted a bullish outlook for the token by December.

According to the forecast, Shiba Inu’s price will hit $0.0000095 by December 11, indicating a 10% increase from its price as of the time of prediction. Its prediction becomes more likely to come true, given the possibility of additional whales and regular investors joining the token market.

The projections also highlighted about 4 technical analysis indicators that suggest bearish conditions, while about 24 indicate optimistic signs. Additionally, the token’s current RSI value of 63.05 is neither overbought nor oversold, according to the prediction.

Shiba Inu

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MATIC Propels Over $0.75, Is $1 Possible?

Amid the bullish trend circling the cryptocurrency market due to the recently concluded Uptober rally, Polygon’s native crypto MATIC has recently gained traction recording a 50% increase in price surge in the last 20 days.

MATIC Experiences Price Growth

The recently concluded Uptober (October) which is believed to be a month of green (gains) saw some cryptocurrencies performing significantly great. Many altcoins experienced price surges during the past month, and one of the notable altcoins that benefited from this is MATIC.

The crypto asset recently went past the crucial $0.75 mark sparking momentum toward reaching the significant $1 mark. However, if the token is fortunate enough to sustain its current pace, it might reach the $1 mark by the end of 2023.

MATIC reaching the coveted $1 mark is expected to happen if the token manages to surpass $0.85 in November. Meanwhile, a reverse below $0.75 will bring the MATIC price down to $0.55, if buyers are unable to maintain their lead at $0.60.

MATIC’s Exponential Moving Averages (EMAs) have also experienced a significant breakout over the recent weeks. The price of MATIC experienced a price surpassing the crucial $0.75 barrier after the crypto’s 200-day EMA breakout. 

MATIC

MATIC surpassing a 200-day EMA puts it on its way to potentially reaching the $1 mark by the end of the year. This is because, in the Polygon chart, a golden crossover opportunity appears when the 50-day and 200-day EMAs are crossed above.

While the 50-day EMA’s upward trend suggests that a golden crossover could take place, the bull run cutting across the 200-day EMA may also suggest a reversal movement. However, the crypto asset has managed to sustain its upward trajectory since it surpassed the 200-day EMA.

Significance Of The Crypto’s Market

Currently, the token’s price is sitting at $0.77, indicating an 8% daily increase in price with a 24-hour trading volume of $489,605,430. The token market is standing robust, ranking 13 in the cryptocurrency market with a market cap of $7 billion.

MATIC has a significant market presence and a circulating supply of 9.24 billion MATIC, which buttresses its long-term technical score and puts it above 48% of all cryptocurrencies in service.

Related Reading: MATIC Price Rally Threatened As Whales Deposit Millions Of Tokens To Exchanges

One significant aspect of the surge in MATIC’s price is that the token experienced a 33% year-to-date (YTD) decline in September. Consequently, the crypto recovered from this within a month.

In addition, the token’s strong bullish candles and rising volumes hint at a continuation of an upward trajectory. As a result of this, buyers have a good chance of maintaining their lead at the current price of MATIC.

So far, MATIC has experienced a 50% increase in the last 20 days, putting it in a profitable position following the 33% year-to-date decline in September. With the current bullish continuation, the token presents more profits in the future.