A prominent crypto strategist and trader is comparing Bitcoin’s recent slide to when BTC dipped in the spring of 2017 before nearly tripling in value within months.
The trader known in the industry as Inmortal suggests to his 75,000 followers that Bitcoin’s price drop that began earlier this month will continue into early October, but then launch back toward all-time highs and beyond.
According to Inmortal, Bitcoin’s current price action will be the “last dip ever.”
The trader notes that Bitcoin maintaining a bottom in the face of macroeconomic pressures across the board bodes well for a future price increase.
“The fact that $BTC hasn’t dropped despite all the FUD [fear, uncertainty, and doubt] is a good sign.
Reclaim 45k and I’ll long it to a new ATH [all-time highs].”
Inmortal also sees a “green week ahead” for Ethereum (ETH).
Fellow crypto trader and strategist Capo also expects Bitcoin to ignite rallies to all-time highs, but predicts less of a dip than Inmortal.
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 grab Bitcoin at a further discount will likely be disappointed.
“Many people waiting for sub $40k $BTC
Not happening.”Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/Charming Decor Art