A well-known crypto analyst is predicting that Bitcoin (BTC) is gearing up for another bull run after trading sideways for weeks. Inmortal, a pseudonymous crypto trader with a large following on social media, believes that Bitcoin is following a similar pattern to 2020, where it traded around the previous cycle’s all-time high before experiencing a significant increase in value.
Inmortal acknowledges that the current market structure may seem bearish, but he points out that Bitcoin is still within a trading range and anticipates a breakout in the near future. Despite not seeing any higher highs since reaching its all-time high, Bitcoin remains in a favorable position compared to market order.
As of the time of writing, Bitcoin is trading at $61,765, showing a 1.5% decrease in the last 24 hours. In addition to his Bitcoin prediction, Inmortal also reiterates his belief that Floki (FLOKI), a dog-themed memecoin, will outperform the broader crypto market. This comes after financial giant VanEck’s MarketVector’s Meme Coin Index recently added Floki to its portfolio, indicating potential growth opportunities for the coin.
Floki is currently trading at $0.0001965, reflecting a more than 6% increase in the last 24 hours. Inmortal suggests that Floki could lead the upcoming market cycle, given its inclusion in VanEck’s Memecoin Index.
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