A Crypto Analyst Predicts Bitcoin Will Reach $120,000 Before Making a Pit Stop
A well-known crypto analyst has made bold predictions about the future of Bitcoin (BTC), suggesting that the leading cryptocurrency is on track to soar to $120,000. However, the analyst also anticipates a temporary dip below the $100,000 mark before this significant price increase occurs.
In a recent thread shared on X, pseudonymous crypto analyst Inmortal shared insights with his substantial following of 232,000 followers. According to the analyst, Bitcoin is showing signs of readiness for a substantial price surge, with a projected target of $120,000 expected to be reached by the last week of May.
Looking beyond Bitcoin, the analyst also commented on Ethereum (ETH), highlighting the beginning of what he termed as “ETH season.” He advised investors to position themselves accordingly for potential gains. Additionally, the analyst pointed out that individuals who opted for meme coins over Solana (SOL), a key competitor to Ethereum, may have overlooked significant opportunities.
Referring to his chart analysis, the analyst suggested that Ethereum could experience a notable increase in value compared to Bitcoin in the latter part of the year, followed by a subsequent correction while still maintaining a new local high.
As of the latest update, Bitcoin is trading at $102,519, with a minor decrease in value over the past 24 hours. Ethereum is currently priced at $2,513, reflecting a 2.2% decline within the same timeframe.
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