Bitcoin Set to Reach Record High, Predicts Cryptocurrency Expert – Check Out His Forecast

A prominent analyst in the crypto space has shared insights suggesting that Bitcoin (BTC) is on the verge of a significant surge that could propel it to new record highs. Inmortal, a well-known figure among crypto traders, conveyed to his substantial following on the social media platform X his belief that Bitcoin might establish its all-time high (ATH) support level at around $74,000 within the next four months.

Expressing optimism, the analyst implied that Bitcoin might not retrace back to $49,000 before hitting a new ATH, hinting that the consolidation phase’s bottom might already be in place. This sentiment was further reinforced by the analyst’s projection that Bitcoin could hover in the $58,000 range as September unfolds, eventually reclaiming the $62,000 mark as a stable support level in the initial week of the month. These strategic steps were summarized succinctly: “1. Wait. 2. Let the price set the September open. 3. Long the reclaim.”

Looking ahead, the analyst foresaw Bitcoin entering a highly dynamic phase in its market cycle, marked by a decisive breach of its previous ATH. This forward-looking perspective was encapsulated in the statement, “Soon we go brrrr.” At the time of writing, Bitcoin was trading at $59,219, showing a slight uptick over the past 24 hours.

Shifting focus to Ethereum (ETH), the analyst projected a potential retesting of lower levels before a surge to $3,200, representing a notable 26% increase from its current valuation. The advice given was to exercise patience and wait for the price to hit $2,500 before considering a long position.

Ethereum was observed trading at $2,520 at the time of reporting, indicating a minor decline within the previous 24-hour period. These insights from the analyst provide a glimpse into the anticipated movements within the crypto market, hinting at potential bullish trends for both Bitcoin and Ethereum in the near future.