A popular crypto strategist and trader thinks that Bitcoin (BTC) and an Ethereum (ETH) competitor altcoin is poised for big rallies.
The analyst, known in the crypto industry as Inmortal, told his 190,400 Twitter followers that Bitcoin could reach $30,000 before the recent capitulation event that will cause it to crash to $12,500 later this year. told.
“Two relevant levels: 2018 and 2021 opening levels.
> Bear market rally mid 2023
> It will be below 20,000 by the end of Q4.”
At press time, Bitcoin, the largest cryptocurrency, is trading at $16,938. A move towards Inmortal’s target indicates an upside potential of around 77% for BTC.
Looking at Ethereum rival Solana (SOL), the analyst expects the smart contract protocol to rally close to 50% in the next few months. According to the crypto strategist, traders who continue to short on Solana will generate fuel for SOL’s rally towards its price target.
“+60% from the bottoms. I think we’ll see SOL at $20 this first quarter.”
At press time, the popular altcoin SOL is trading slightly higher on the day at $13.35. The rise to the $20 target represents an increase of over 49% for SOL.
As for the leading altcoin Ethereum itself, the crypto analyst predicts a quick rally before pulling back to support.
“Hmm, so long now, then short at $1,400?”
You can follow the current price action here.