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.
Check Latest News Headlines
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
This article was originally reported on The Daily Hodl.