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The anonymous cryptocurrency analyst, Inmortal, closely followed by investors, has predicted a bullish trend for Ethereum (ETH), the largest smart contract platform. He emphasized that expecting a decline in ETH’s value at this point is misguided.
“ETH will Boom if it Follows BTC’s Footsteps”
Inmortal suggests that the current situation of ETH is similar to Bitcoin (BTC) being valued at $6000 in 2019. He noted that the largest altcoin has been registering rising bottoms at the macro level since the summer of 2022, just like BTC did.
Claiming that it is hard to say ETH is on a decline trend, the analyst said: “Take a look at this structure. The $2000 level for ETH is equivalent to the $6000 level for BTC in 2019, and since the summer of 2022, it has been recording rising bottoms at the macro level.”
As of the time of this report, Ethereum is trading at $1878. Being the second-largest cryptocurrency by market value and the largest altcoin, ETH has experienced a rise of over 2% in the last 24 hours. The analyst’s expectation is a significant surge upwards for ETH, similar to what BTC experienced in 2019.
Anticipates a Significant Surge in the Crypto Market Within a Year
Furthermore, Inmortal predicts a strong surge for the entire cryptocurrency market within a year. The analyst stated: “My strategy is extremely simple. I think the prices will be much higher than they are now within a year. So, I buy without paying much attention to the prices.”
Inmortal also added that it is only a matter of time before the leading cryptocurrency, BTC, jumps to $35,000.
In addition, Inmortal shared his views on how to interpret the sentiments of retail investors. He said: “High interaction bearish posts when the price increases means disbelief, and people want to buy at lower prices and stay out of the game. High interaction bullish posts when the price increases means greed. If the prices drop by 10%, investors who joined the train late will be underwater.”
