Bitcoin Eyes $48,000 as Crypto Strategist Predicts Continued Uptrend
Crypto strategist Inmortal predicts that Bitcoin (BTC) will continue its upward trajectory as it approaches the $48,000 mark. The analyst suggests that a surge in retail traders could push the top cryptocurrency even higher. Inmortal states, “No new participants in crypto and we are at $48,000, chilling. Imagine when the masses come in like they did in 2021. We are going much higher, soon…” At the time of writing, Bitcoin is trading at $47,526, up over 5% in the last 24 hours.
Floki Emerges as Top Contender in Memecoin Market
Inmortal believes that Floki (FLOKI), a dog-themed memecoin, could be one of the leading performers in this market cycle. The trader notes that Floki experienced a 20% surge in value, reinforcing his belief that it is “THE memecoin of this cycle.” Inmortal’s chart analysis suggests that Floki has the potential to rally to $0.0000480 within the month. Currently, Floki is trading at $0.0000313, a gain of more than 10% in the last 24 hours.
Battle For Resistance Levels: Bitcoin and Ethereum Face Key Test
Both Bitcoin and Ethereum (ETH) are currently facing resistance levels, according to Inmortal. However, the trader points out that if these cryptocurrencies manage to flip these resistance levels into support, it could indicate a bullish trend ahead. Inmortal states, “Both BTC and ETH at resistance right now. Acceptance above $45,000 and $2,400 = expansion.” Ethereum is currently trading at $2,486, up nearly 3% in the last 24 hours.
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Disclaimer: Do Your Own Research Before Investing
It’s important to note that the opinions expressed in this article are not investment advice. Before making any high-risk investments in Bitcoin or other cryptocurrencies, investors should conduct their own thorough research. As with any investment, there are risks involved, and any losses incurred are the responsibility of the individual investor. It’s advisable to seek professional advice before buying or selling cryptocurrencies or digital assets.
Analyst comment
Positive news:
1. Bitcoin Eyes $48,000 as Crypto Strategist Predicts Continued Uptrend: This news is positive as it suggests that Bitcoin’s price could continue to rise, possibly surpassing the $48,000 mark. This prediction is based on the analyst’s belief that an increase in retail traders could drive the cryptocurrency’s value higher.
Neutral news:
2. Floki Emerges as Top Contender in Memecoin Market: This news is neutral as it simply states the analyst’s belief that Floki, a memecoin, could be one of the leading performers in the current market cycle. It provides information about Floki’s recent surge in value and the analyst’s prediction for its potential rally, but does not indicate whether this is positive or negative for the overall market.
3. Battle For Resistance Levels: Bitcoin and Ethereum Face Key Test: This news is neutral as it highlights that both Bitcoin and Ethereum are currently facing resistance levels. The analyst suggests that if these levels are flipped into support, it could indicate a bullish trend. However, it does not provide a definitive prediction about the market’s future direction.
As an analyst, it is difficult to make a prediction based solely on the provided news. However, considering the positive sentiment surrounding Bitcoin and the potential for a bullish trend if resistance levels are overcome by Bitcoin and Ethereum, the market could experience a continued uptrend with potential price increases in both cryptocurrencies.
