A Trader Predicts Bitcoin’s Path to $60,000
An analyst who accurately predicted Bitcoin’s bear market bottom in 2018 is now outlining a price path for the cryptocurrency to reach $60,000. The trader, known as Bluntz, uses the Elliott Wave theory to analyze Bitcoin’s price movements. According to this theory, Bitcoin is currently in the midst of a wave three rally, which represents the longest upward movement in a bullish trend. Bluntz predicts that Bitcoin will end its wave three rally at $50,000 before experiencing a wave four correction down to $42,500. He then expects Bitcoin to reach $60,000 for the fifth and final wave by September 2024.
Solana (SOL) Primed for a Steep Rally
Bluntz is also updating his outlook on Solana (SOL), a smart contract platform. He believes that SOL is ready for a significant rally after hitting a local bottom around $55. Bluntz advises not to miss out on the opportunity before SOL potentially reaches $80 or more. At the time of writing, SOL is trading at $58.67.
Hot Take: Analyst Provides Roadmap for Bitcoin’s Future
An analyst known as Bluntz has shared his predictions for Bitcoin’s future price movements based on the Elliott Wave theory. According to his analysis, Bitcoin is currently in a wave three rally and is expected to reach $50,000 before undergoing a correction down to $42,500. Bluntz then anticipates a final wave that will push Bitcoin’s price up to $60,000 by September 2024. Additionally, Bluntz highlights Solana (SOL) as another cryptocurrency primed for a steep rally after hitting a local bottom around $55. These predictions provide insights into potential future price movements for both Bitcoin and Solana.
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