Cryptocurrency enthusiasts are eagerly anticipating steep rallies for Bitcoin (BTC), according to a well-known crypto strategist and trader. Inmortal, a pseudonymous analyst with a significant following on X, suggests that Bitcoin is on the brink of replicating its 2023 price action.
In 2023, Bitcoin consolidated below the $30,000 mark before embarking on a parabolic surge to reach new all-time highs. Inmortal draws parallels between the current market conditions and those of 2023, hinting at a potential repeat performance.
The analyst highlights that Bitcoin is currently in the final stages of consolidation following this year’s halving event, where BTC miner rewards were halved. Inmortal expresses confidence that Bitcoin is poised for a significant upward movement in the near future.
While Bitcoin is currently trading at $62,824, the trader also provides insights into Ethereum (ETH). Inmortal suggests that a potential dip below $2,000 could present a golden opportunity for long-term investors. He speculates that Ethereum could rally to surpass its previous all-time high of $5,000 after a corrective phase.
At the time of writing, Ethereum is trading at $2,480, and the trader’s chart indicates a bullish outlook for the cryptocurrency. Inmortal’s analysis hints at a potential surge in Ethereum’s price following a period of correction.
For cryptocurrency enthusiasts looking to stay updated on market developments, subscribing to email alerts and following platforms like X, Facebook, and Telegram can provide valuable insights. Keeping track of price action and market trends is essential for making informed investment decisions in the ever-evolving world of digital assets.
In conclusion, the cryptocurrency market is abuzz with anticipation as analysts like Inmortal predict significant price movements for Bitcoin and Ethereum. As investors brace for potential rallies, staying informed and monitoring market dynamics will be key to navigating the volatile yet promising landscape of cryptocurrencies.