Cryptocurrency analyst Credible is confident that the price of Bitcoin (BTC) will reach all-time highs this year – even higher than the $30,000 rejection recently experienced. Credible's confidence is based on the observation of the distribution of Bitcoin amongst those who held it during that the Three Arrows Capital and FTX collapses, with over 70 percent of the total supply held by wallets that did not sell, indicating they are not likely to anytime soon.

Credible believes that if BTC is to reach all-time highs this year as he puts it: "The most entertaining outcome is the most likely one." He asserts that the most likely scenario here would be a move straight to the all-time high without much in the way of consolidation.

Given this, Credible doubts that the gap at $20,000 will be filled in the near future, as Bitcoin is more likely to go straight to all-time highs. He applies Elon Musk's statement that "the most entertaining outcome is the most likely one" to Bitcoin, making the argument that a sudden jump to all-time highs this year would make for a more entertaining outcome than a year-long sideways action leading up to the Halving in 2024-2025.

In addition, Credible also points out that prolonging the sideways price action for the next two years before the Halving commences would mean that those who lost money during the 3AC and FTX collapses will miss out on the opportunity to reposition their positions.

Overall, Credible's forecast of BTC hitting all-time highs this year is a bold one. While it is a less obvious outcome than a much more realistic consolidation phase over time, if this prediction comes to fruition, it could mean significant benefits for an array of not just Bitcoin hodlers, but the cryptocurrency market as a whole.



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