According to a well-known cryptocurrency specialist, Bitcoin (BTC) is preparing for one more decline before the start of a new bull market. Accordi
According to a well-known cryptocurrency specialist, Bitcoin (BTC) is preparing for one more decline before the start of a new bull market.
According to Inmortal Crypto Analyst Predicts Final Bitcoin, a psuedonymous analyst, Bitcoin will likely have a significant correction move near the $20,000 mark before a parabolic surge beyond $50,000, according to his 198,700 followers on the social networking site X.
“The last dip ever.”
— Inmortal (@inmortalcrypto) August 26, 2023
According to Inmortal, the price movement of Bitcoin in the latter part of 2019 when BTC breached its support at about $10,000 and plunged all the way to the $6,000 level is being mirrored.
“Imagine the smell.”
— Inmortal (@inmortalcrypto) August 27, 2023
Looking at the trader’s chart, it appears that he believes that BTC will initially drop below $24,000 before rising to the price region of $30,000. The chart also indicates that the likely outcome of the rise is a sharp fall to the $21,000 mark.
Bitcoin is now worth $26,063 at the time of writing.
The major smart contract platform, Ethereum (ETH), will trade in an ascending triangular pattern over the following months until breaking out around the beginning of 2024, according to the analyst’s analysis of the market.
“You would do everything in 2025 to come back here. > +500 days accumulating > macro higher lows. My preferred accumulation of the current bear market.
In 2025, you would give anything to come back here.
> +500 days accumulating
> Macro Higher Lows
— Inmortal (@inmortalcrypto) August 23, 2023
Inmortal looks to forecast that Ethereum will go above the $3,000 price region in the first quarter of 2024 based on the trader’s chart.
As of this writing, the value of Ethereum is $1,653.
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