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Cryptocurrency News Articles
Crypto Analyst Inmortal Predicts Parabolic Rallies for Bitcoin (BTC), Says Ethereum (ETH) Dip Below $2K Would Be 'Generational Long'
Oct 14, 2024 at 04:00 am
Pseudonymous analyst Inmortal tells his 216,500 followers on the social media platform X that Bitcoin appears to be mirroring its 2023 price action.
Cryptocurrency strategist and trader Inmortal believes that Bitcoin (BTC) is poised for a significant rally, pointing out a striking similarity in the price action over the last 365 days.
As per Inmortal, a year ago, BTC was on the cusp of a parabolic surge to new all-time highs after consolidating below the $30,000 level. Now, the top-ranked crypto asset appears to be in the final stages of consolidation following this year’s halving event, when BTC miner rewards were cut in half.
“365 days ago today, we were about to go parabolic.
October 2023-2024 are a copy.
BTC.”
The closely followed crypto strategist and trader is also keeping an eye on Ethereum (ETH). He shares a scenario where a dip below $2,000 would present a prime opportunity for long-term investors to accumulate the second-largest cryptocurrency by market cap.
“I can’t tell you how likely this is to happen.
But if it does, it’s an ETH generational long.”
Based on the trader’s chart, it appears that he anticipates Ethereum will rally to a fresh all-time high above $5,000 after the correction. At the time of writing, Ethereum is trading at $2,480.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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