A widely followed crypto analyst is predicting that Bitcoin (BTC) is about to take off on another bull run after chopping around for weeks.
Pseudonymous crypto trader Inmortal tells his 213,800 followers on the social media platform X that Bitcoin appears to be mirroring a 2020 pattern of trading around the prior cycle’s all-time high (ATH) before a massive bull run.
“It is not hope. It is not a dream. Round two of the bull market is almost here. Grab your balls and ride the trend.”
The trader says that the current market structure may appear bearish, but Bitcoin remains within a trading range and predicts it is only a matter of time before a breakout.
“The bad news? Not a single higher high since all-time high. The good news? We are still in the range and above market order. What to do? In my opinion, doing nothing is the best thing you can do now.”
Bitcoin is trading for $61,765 at time of writing, down 1.5% in the last 24 hours.
He also re-confirms his prediction that memecoin dog-themed crypto asset Floki (FLOKI) will outperform the broader crypto market after financial giant VanEck’s MarketVector’s Meme Coin Index, which trades under the symbol MEMECOIN, just added Floki to its portfolio.
“VanEck added FLOKI to its Memecoin Index. The suits are gearing up for round two of the bull market and it shows. I’ve been saying it for quite some time, but I think FLOKI will lead this cycle.”
FLOKI is trading for $0.0001965 at time of writing, up more than 6% in the last 24 hours.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxGenerated Image: DALLE3