A closely watched cryptocurrency strategist is suggesting that Bitcoin could soar by triple digits this cycle, and that one altcoin could even outperform BTC.
Pseudonymous analyst Immortal told his 217,800 followers on social media platform X that Bitcoin’s cycle high could end up being 164% higher than its current value.
“This cycle top is going to be $127,000 to $180,000 if you're lucky. But you're not ready to have this conversation.”
He also believes that if former President Donald Trump, who has expressed support for cryptocurrencies, wins the US presidential election in November, Bitcoin could rise even further.
“If the president wins the election, we can go even further.”
Next, analysts suggest that Solana (SOL) could outperform Bitcoin and Ethereum (ETH) this cycle.
“Selling pressure is easily absorbed. But what caught my attention most was the strength of SOL. It will probably outperform both BTC and ETH…
2020-2021 was for ETH. 2024-2025 is SOL. They perform better and are the fastest horses. ”
Solana is trading at $177 at the time of writing, up more than 2% in the past 24 hours.
Finally, analysts have identified key levels that they believe Bitcoin needs to maintain in the short term to maintain its upward trend.
“When it comes to swing pattern failures (SFP) or deviations, we look at two levels.
- $64,800, lowest local price.
- $63,300, monthly open.
Still in a good position to build higher lows. Acceptance below monthly open = no bueno. ”
At the time of writing, Bitcoin was trading at $68,187, up 2.4% in the past 24 hours.
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