A Crypto Analyst Predicts Bitcoin Will Reach $100,000, But Expects a Correction First
A well-known crypto analyst has made a bold prediction that Bitcoin (BTC) is on track to reach a six-figure price, but warns investors to brace for a potential correction before this milestone is achieved.
Bitcoin’s Price Trajectory
According to a recent thread shared by the pseudonymous trader Inmoral on the social media platform X, Bitcoin is expected to experience a temporary dip around the $85,000 mark before surging to $100,000.
Based on Inmoral’s analysis, Bitcoin is anticipated to surpass the $90,000 level before consolidating around $85,000 and then making a push towards $100,000. The chart suggests that this milestone could be reached as early as May.
As of the latest data, Bitcoin is currently trading at $87,015, showing a slight increase over the past 24 hours. The cryptocurrency opened the month of March at $84,373.
Solana’s Potential Rebound
Shifting focus to the smart contract platform Solana (SOL), Inmoral also predicts a recovery for the Ethereum (ETH) competitor following a significant dip of over 60%. Drawing parallels to a similar scenario in 2021, where SOL experienced a -67% correction before rallying by +1200%, the analyst remains optimistic about its future prospects.
At present, Solana is trading at $134.60, reflecting a 1.2% decline in the last 24 hours. Despite the recent downturn, Inmoral believes that SOL has the potential to bounce back and mirror its previous impressive performance.
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