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An analyst known as Credible Crypto is predicting that Bitcoin (BTC) will reach $50,000 in the near future. He bases his prediction on Bitcoin’s recent rally to a new high of $44,700 and the data from the spot and derivatives markets. Credible Crypto believes that Bitcoin’s uptrend will continue and that there won’t be a significant correction. He explains that the recent price increase was due to a short squeeze, which has been a common pattern throughout the rally. He also notes that the open interest and funding levels are healthy, indicating that there isn’t much leverage at these prices to cause a major dip. Credible Crypto expects Bitcoin to reach $50,000 by the end of the week.However, he also predicts that Bitcoin will pull back to around $42,000 before continuing its upward movement. Despite this potential pullback, Credible Crypto believes that the downside is limited. At the time of writing, Bitcoin is trading at $43,987, suggesting a potential upside of about 13% in the next seven days if Credible Crypto’s prediction comes true.