Cryptocurrency markets have recently come to the fore with the rapidly changing dynamics of leading assets such as Bitcoin (BTC). This volatility means investors and analysts are constantly monitoring the market and evaluating new opportunities. In this context, the evaluations made by a well-known crypto analyst like Bluntz are met with great interest in the market.
Bluntz points out the importance of an ascending channel breakout recently observed on the price chart of PUPS (Ordinals), a meme coin on the Bitcoin network. Based on technical analysis, a breakout of the upper boundary of an ascending channel usually indicates the potential for further upside in price. This situation increases investors’ optimism for the future and causes them to consider new purchasing opportunities. Bluntz also stated that he received some more PUPS (Ordinals) due to this development. explained.
Additionally, PUPS attracted attention with a large price increase recently. Notably, an impressive 4,656% increase from the March 17 low to $78 levels indicates that the meme coin price is in a strong uptrend. This increases investors’ interest in PUPS and supports Bluntz’s predictions.
Another important point that Bluntz highlights in his analysis is that PUPS has a similar pattern exhibited by Nosana (NOS) in the past. This may indicate that PUPS have the potential to achieve similar success in the future and could further excite investors.
The analyst also shared his prediction about Bitcoin. According to Bluntz, Bitcoin appears to mirror gold’s consolidation around all-time highs. To support this prediction, the famous analyst shared a chart showing that the precious metal traded in a certain range for four years before breaking and reaching record levels. He noted that BTC could follow a similar pattern but on an accelerated timeline.
Finally, Bluntz predicts that gold will probably rise to $4,000 due to inflation concerns.
At the time of writing, gold is trading at $2,344 while Bitcoin is trading at $66,722.
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