Cryptocurrency markets have recently been influenced by the predictions of a senior analyst who has gained fame with his forecasts. He stated that the correction in Bitcoin (BTC) would distract people from the bigger picture and cause them to overreact. Here is the Bitcoin analysis from the expert!
Expectation of Short-Term Decline in BTC!
The senior analyst, known by the pseudonym Inmortal, stated on Twitter that he believes Bitcoin, which is the flagship of the markets, will likely drop to $26,000 by the end of this month. According to the senior analyst, the corrective movement is likely to instill fear in the markets. However, it can also be the starting point of a move that will push BTC above $36,000. The expert stated the following in his comments:
You see, people will panic in the next decline. But this will only be another macro lower high.
Inmortal stated that the correction will likely be triggered by delays in the announcement of spot-based Bitcoin exchange-traded funds (ETFs). According to the cryptocurrency strategist, investors will not abandon their positions until regulators give the green light to a Bitcoin ETF.
At the time of writing, the leading cryptocurrency Bitcoin is trading at $29,454, according to data from the website 21milyon.com.
Altcoin Analysis from the Analyst!
The analyst also claimed that the volatile market situation is a harbinger of upward price movement in the coming year. According to Analyst Inmortal, altcoins are likely to witness a strong upward trend in 2024 and 2025. The senior analyst made the following statements regarding the expectation of an increase:
Since the price is going in slow motion, don’t worry… Go enjoy the summer. Get ready because we will be trading cryptocurrencies all night long in 2024-2025.
In addition, cryptocurrency analyst Inmortal stated that he has accumulated two prominent altcoins in the market, Solana (SOL) and Chainlink (LINK). He said the following in his statement:
My accumulations continue. I recently bought LINK and SOL.
At the time of writing, Solana is trading at $24.55, while LINK is valued at $7.45.
