- A prominent crypto analyst, Inmortal, predicts a bullish run for Bitcoin (BTC), drawing parallels with a 2020 trading pattern.
- Despite the current market structure appearing bearish, Inmortal believes Bitcoin is still within a trading range and a breakout is imminent.
- Inmortal also reiterates his prediction for the memecoin Floki (FLOKI) to outperform the broader crypto market, following its addition to VanEck’s MarketVector’s Meme Coin Index.
Renowned crypto analyst Inmortal forecasts a bullish run for Bitcoin, paralleling a 2020 trading pattern, and reaffirms his prediction for memecoin Floki to outperform the broader crypto market.
Bitcoin Poised for Bullish Run, Says Crypto Analyst
Noted crypto trader Inmortal recently shared his prediction with his 213,800 followers on social media platform X, stating that Bitcoin’s current trading pattern mirrors that of 2020, just before a massive bull run. He believes that despite the market structure appearing bearish, Bitcoin remains within a trading range and a breakout is imminent.
Bitcoin’s Current Market Structure
Inmortal notes that while Bitcoin has not achieved a single higher high since its all-time high, it remains within the trading range and above market order. He advises that the best course of action currently is inaction, as he anticipates a breakout. At the time of writing, Bitcoin is trading at $61,765, down 1.5% in the last 24 hours.
Floki Predicted to Outperform Broader Crypto Market
In addition to his Bitcoin prediction, Inmortal also reiterates his forecast for the dog-themed memecoin Floki (FLOKI) to outperform the broader crypto market. This follows the addition of Floki to financial giant VanEck’s MarketVector’s Meme Coin Index, which trades under the symbol MEMECOIN. Inmortal states that he believes Floki will lead this cycle. Floki is currently trading at $0.0001965, up more than 6% in the last 24 hours.
Conclusion
Inmortal’s predictions provide a positive outlook for both Bitcoin and Floki, despite the current bearish market structure. As the market continues to evolve, these predictions highlight the potential for significant movement in the crypto space. However, as always, investors are advised to conduct their own due diligence before making any investment decisions.
