Bitcoin could hit all-time high this year, says CrediBULL Crypto

CrediBULL Crypto, widely followed crypto trader, says that Bitcoin BTCUSD could hit a new record high this year based on historical precedent.

In a tweet late Wednesday, the crypto analyst said that BTC could replicate previous impulse waves such as the one witnessed in 2020.

The analyst added that the market hasn't yet gotten a perfect retest of the black support resistance level at $25,200. Note that we tested $10,000 and wicked below to complete the retest in 2020, he said.

BitMEX founder Arthur Hayes said last week that the macro environment is starting to look favorable for Bitcoin.

In an interview with Peter McCormack on What Bitcoin DidBitcoin Did, Hayes said the U.S. government will do what it usually does during a debt deadline crisis - wait until the last moment before raising the limit.

A burst to the upside for Bitcoin could happen if the U.S. government raises the debt limit and issuing fresh liquidity to finance the U.S. government's debt and potential financial disruptions in the coming months, Hayes said.

Bitcoin was trading at $27,433, up 3 percent from the previous close of $27,433.

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