A popular crypto strategist and trader predicts significant rallies ahead for Bitcoin (BTC).
The analyst known as Inmortal, with a following of 216,500 on X, suggests that Bitcoin’s current price action resembles that of 2023.
During that time, Bitcoin consolidated below $30,000 before experiencing a parabolic surge to new all-time highs.
Inmortal states, “365 days ago today, we were about to go parabolic. October 2023-2024 are a copy. BTC.”
Zooming out, Inmortal believes that Bitcoin is nearing the end of its consolidation phase post this year’s halving event.
He says, “The wait is almost over. BTC.”
Inmortal is optimistic about Bitcoin’s future, suggesting that the current consolidation phase is setting up BTC for a significant upward movement.
He adds, “‘Why BTC doesn’t dump? [The] chart looks terrible!’ Because something is coming. They call it the god candle, son.”
Currently, Bitcoin is trading at $62,824.
Switching focus to Ethereum (ETH), Inmortal presents a scenario where a dip below $2,000 could be a great opportunity for long-term investors.
“I can’t tell you how likely this is to happen. But if it does, it’s an ETH generational long.”
According to Inmortal’s chart, Ethereum is expected to rally to a new all-time high above $5,000 after the correction.
At present, Ethereum is trading at $2,480.
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Generated Image: Midjourney
