A popular crypto strategist and trader thinks that Bitcoin (BTC) and one Ethereum (ETH) rival are gearing up for huge rallies.
Pseudonymous analyst Inmortal tells his 190,400 Twitter followers that he sees Bitcoin rallying close to $30,000 in the coming months before a final capitulation event that takes BTC to $12,500 later this year.
“Two relevant levels: 2018 and 2021 yearly open. > Bear market rally mid 2023 > Sub-20,000 in late Q4.”
At time of writing, Bitcoin is changing hands for $16,938. A move toward Inmortal’s target suggests an upside potential of about 77% for BTC.
Looking at Ethereum challenger Solana (SOL), Inmortal expects the smart contract protocol to rally close to 50% in the next few months. According to the crypto strategist, traders who keep shorting Solana will generate the fuel for SOL’s rally toward his price target.
“Generational bottom or not, sub $10 buyers are doing pretty well.
+60% from the lows.
I think we’ll see $20 SOL this Q1.”
At time of writing, SOL is switching hands for $13.35, a fractional increase on the day.
As for Ethereum itself, the crypto analyst predicts a quick rally for the top smart contract protocol before pulling back toward its diagonal support.
“Hmm so, long now then short $1,400? I’ll take it.
ETH.”
At time of writing, Ethereum is swapping hands for $1,263.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/GrandeDuc/Nikelser Kate
