dailyhodl.com
A closely followed crypto strategist is predicting that Bitcoin ($BTC) will remain in an uptrend as it closes in on $48,000.
Pseudonymous analyst Inmortal tells his 206,200 followers on the social media platform X that a sudden influx of retail traders could drive the top crypto asset by market cap another leg up.
“No new participants in crypto and we are at $48,000, chilling. Imagine when the masses come in like they did in 2021. We are going much higher, soon…”
Bitcoin is trading for $47,526 at time of writing, up more than 5% in the last 24 hours.
The trader also believes that dog-themed crypto asset Floki ($FLOKI) may be one of the top performing memecoins this market cycle.
“+20% candle today. I’ve said it before and I’ll say it again, $FLOKI is THE memecoin of this cycle.”
Looking at his chart, the trader suggests $FLOKI could rally to $0.0000480 this month.
$FLOKI is trading for $0.0000313 at time of writing up, more than 10% in the last 24 hours.
The trader also says that both Bitcoin and Ethereum ($ETH) are battling resistance levels, but if they flip them into support, it could mean that bullish momentum will follow.
“Both $BTC and $ETH at resistance right now. Acceptance above $45,000 and $2,400 = expansion.”
Ethereum is trading for $2,486 at time of writing, up nearly 3% in the last 24 hours.
Generated Image: Midjourney