A Promising Outlook for Bitcoin and Bonk Memecoin
A well-known analyst and trader, Bluntz, who accurately predicted the bottom for Bitcoin (BTC) in 2018, is now sharing his insights on the future of the crypto market. With a substantial following on the social media platform X, Bluntz has gained credibility for his market predictions.
Bitcoin’s Potential for Growth
According to Bluntz, Bitcoin has recently undergone a correction after dropping below the $116,000 price level. However, he believes that the correction is now complete, and Bitcoin is poised to reach new all-time highs, potentially hitting $127,000. Bluntz follows the Elliott Wave theory, which suggests that Bitcoin is likely to enter a new uptrend following the completion of an ABC correction. Currently, Bitcoin is trading at $117,262.
Potential Upside for Bonk Memecoin
Bluntz also highlights the Bonk (BONK) memecoin, noting its resilience during the Bitcoin correction. He suggests that BONK has completed an ABC-wave pattern to the downside and could potentially reach the $0.000044 price area. Despite market volatility, BONK has held strong and defended its lows, leading Bluntz to predict a potential “rage pump” in the near future. Currently, BONK is trading at $0.000035.
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