A widely followed crypto analyst says that Bitcoin (BTC) is gearing up to skyrocket to $120,000 but notes that the crypto king has to make one pit stop before doing so.
In a new thread, pseudonymous crypto analyst Inmortal tells his 232,000 followers on the social media platform X that the top crypto asset by market cap looks primed to shoot up, but not before dipping below the $100,000 price tag once again.
According to the trader’s chart, BTC will take a dip and then subsequently rise to $120,000 sometime during the last week of May.
Moving on to the second-largest crypto asset by volume, the trader says that Ethereum (ETH) season is just about to begin, and investors should position themselves accordingly.
He also notes that those who chose to purchase meme coins over Solana (SOL), Ethereum’s biggest rival, have yet to notice.
“Bitcoin is at all-time high levels and ETH season is about to start. ‘They’ (those who bought SOL memes and disappeared one week later) still haven’t seen it. Position yourself accordingly.”
The trader’s chart appears to indicate that ETH could rise greatly against BTC during the second half of the year before crashing back down, albeit still at a new local high.
“Imagine if ETH [does] this. No one expects it, and everyone would chase it.”
Bitcoin is trading for $102,519 at time of writing, a fractional decrease during the last 24 hours, while Ethereum is valued at $2,513, a 2.2% decrease in the last day.
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
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 losses 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.
Generated Image: DALLE3
