A prominent crypto strategist and trader, Bitcoin’s recent drop; He compared it to the spring of 2017, when BTC experienced a huge drop before nearly tripling over the months, and noted that there are quite a few similarities between them.
The trader, known in the industry as Inmortal, is suggesting to his Twitter followers that Bitcoin’s price drop that began earlier this month will continue until early October, but then continue to rise to all-time highs and beyond.
According to Inmortal, Bitcoin’s current price action southward will be “BTC’s last bottom.”
The trader believes that Bitcoin’s ability to hold the bottom in the face of widespread macroeconomic pressures bodes well for future price increases.
“To all this FUD [korku, belirsizlik ve şüphe] However, the fact that BTC hasn’t dropped is a good sign.
If we can get 45k back to a new ATH [tüm zamanların en yüksek seviyesine] I will think we can go right.”
Evaluating the second largest cryptocurrency, Inmortal predicts that this week will be a “green week” for Ethereum (ETH).
Capo, also a popular crypto trader and strategist among the community, also expects Bitcoin to rise to all-time highs, but predicts that Inmortal will fall less than he expected.
“If you’re not saving between $40,000 and $45,000, you’ll soon regret it.
If you are not accumulating between 40k-45k, you will regret soon
— il Capo Of $NOIA (@CryptoCapo_) September 28, 2021
According to Capo, traders hoping to buy Bitcoin at a further discount will likely be disappointed:
“Many people expect BTC to drop below $40,000. This will not happen.”
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.