dailyhodl.com
Real Vision macro expert Julien Bittel believes that Bitcoin (BTC) is on the verge of going parabolic based on historical precedence.
Bittel tells his 69,400 followers on the social media platform X that Bitcoin is in a historical “boring” phase ahead of an expected “banana” rally that has come after the halving events when miners’ rewards are cut in half.
“What we’re currently witnessing in terms of Bitcoin price action is fairly typical around the actual halving: a big pump leading into the halving, followed by a brief but sharp correction, a period of sideways chop, a final dump to nuke any remaining bullish sentiment, another phase of boring sideways trading, and eventually, prices beginning to rise again. Basically, it’s the boring zone before the banana zone. Patience, friends.”
Looking at his chart, the analyst suggests Bitcoin could hit $240,000 by May 2025.
Bitcoin is trading for $64,876 at time of writing, up slightly in the last 24 hours.
Next up, Real Vision chief executive Raoul Pal tells his 1 million followers on the social media platform X that Ethereum (ETH) competitor Solana (SOL) may have formed a market bottom.
Says the former Goldman Sachs executive,
“If you wanted a cheeky top-up of your SOL position, this would likely be a good entry zone. Let’s see! The bananas are slowly ripening, but should be magnificent in the autumn.”
Looking at his yearly chart, Pal suggests that SOL is forming a bullish converging trendline pattern.
Solana is trading for $136 at time of writing, up more than 2% in the last 24 hours.
Generated Image: Midjourney