A closely watched crypto strategist and trader believes steep rallies are now in sight for Bitcoin (BTC).
Pseudonymous analyst Inmortal tells his 216,500 followers on social media platform
At the time, Bitcoin consolidated below $30,000 before a parabolic wave to new all-time highs.
Says immortal,
“365 days ago today we were about to go parabolic.
October 2023-2024 are a copy.
BTC.”
Zooming out, the analyst says Bitcoin appears to be in the final stages of consolidation after this year’s halving, when rewards for BTC miners were halved.
“The wait is almost over.
BTC.”
Inmortal believes that Bitcoin’s current consolidation is to set up BTC for a huge burst to the upside.
“Why isn’t BTC dumping? [The] card looks terrible!’
Because something is coming.
They call it the God Candle, son.”
At the time of writing, Bitcoin is trading at $62,824.
Looking at Ethereum (ETH), the trader shares a scenario that suggests a dip below $2,000 would present a golden opportunity for long-term investors.
“I can’t tell you how likely it is that this will happen.
But if so, it will be an ETH generation long.”
Looking at the trader’s chart, he seems to predict that Ethereum will rise to a new all-time high above $5,000 after the correction.
At the time of writing, Ethereum is trading at $2,480.
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Generated image: Midjourney