A trader, who goes by the pseudonym Inmortal and has over 195,000 followers, has predicted that Bitcoin (BTC) will experience a correction soon. Inmortal believes that BTC could drop to $26,000 by the end of this month, which could cause people to panic and miss the bigger picture.
Bitcoin prediction is out
However, the trader also believes that this dip will only be another macro higher low and that BTC will ultimately surpass $36,000.
Inmortal has also suggested that delays in approving spot-based Bitcoin exchange-traded funds (ETFs) could trigger a correction in the market.
This delay could cause traders to be shaken out of their positions before regulators give the green light for a Bitcoin ETF. Currently, Bitcoin is valued at $29,454.
It has been predicted by an expert named Inmortal that the current market conditions, which are a bit unstable, indicate a positive trend for prices next year. It is expected that alternative cryptocurrencies will experience significant growth in the years 2024 and 2025.
Inmortal advises that there is no need to worry about the current slow movement of prices and suggests enjoying the summer instead.
In preparation for trading “low-quality” coins during the years 2024-2025, it is recommended to get ready to trade throughout the night.
Presently, Inmortal is acquiring Solana (SOL) and Chainlink (LINK), and mistakenly purchased an excessive amount of LINK. As of the time of writing, Solana is trading at $24.55 and LINK is valued at $7.45.
LINK in the news
In a recent video strategy session, a well-known crypto trader expressed optimism about the future of Chainlink (LINK) after a prolonged period of accumulation.
The trader, who has a significant following on YouTube, believes that the decentralized oracle network has the potential to increase in value by more than 50% from its current level.
Chainlink has been trading within a range of $5 to $9.50 for approximately 450 days, but is now in a consolidation phase. The trader anticipates that LINK will dip before experiencing a bullish higher-low setup that will lead to significant gains.
