Imminent Bitcoin (BTC) Correction Will Cause People to Panic, Warns Crypto Analyst – Here’s His Downside Target
A trader, pseudonymously known as Inmortal, predicts that an upcoming Bitcoin correction will lead to panic among traders. Inmortal believes that Bitcoin will dip to around $26,000 by the end of the month. However, the strategist also states that this correction will set up BTC for a potential surge above $36,000.
Key points:
– Inmortal expects the correction to be triggered by delays in the approval of spot-based Bitcoin exchange-traded funds (ETFs). The announcement of these delays will likely shake traders out of their positions before the eventual approval of a Bitcoin ETF.
– Despite the current choppy market conditions, Inmortal sees this as a precursor to a bullish price action in the following year. The analyst predicts a strong uptrend for altcoins in 2024 and 2025.
– Inmortal reveals that he is currently accumulating Solana (SOL) and Chainlink (LINK) coins.
– The trader advises not to worry about the current slow motion of Bitcoin’s price and instead enjoy the summer. He suggests getting ready for active trading with altcoins in 2024-2025.
Inmortal’s prediction of an imminent Bitcoin correction causing panic among traders serves as a reminder to focus on the bigger picture. While short-term fluctuations may induce fear, the strategist believes in the long-term potential of BTC and the opportunity for significant price increases in the future.
By
By
By
By
By
By