Crypto Analyst Predicts an Imminent Parabolic Rally for Bitcoin, Says BTC's Waiting Time Is Almost Over

A closely followed crypto strategist and trader believes steep increases are now in sight for Bitcoin (BTC).

Pseudonymous analyst Inmortal tells his 216,500 followers on social media platform X that Bitcoin appears to reflect its price performance in 2023.

At that time, Bitcoin consolidated below $30,000 before triggering a parabolic rise to new all-time highs.

Says Immortal,

“365 days ago today we were on the verge of a parable.

October 2023-2024 are a copy.

BTC.”

In more detail, the analyst says that Bitcoin appears to be in the final stages of consolidation after this year's halving, which halved the rewards for BTC miners.

“The wait is almost over.

BTC.”

Inmortal believes that Bitcoin’s current consolidation is setting BTC up for a massive bullish push.

“‘Why isn’t BTC being sold? (The) diagram looks terrible!'

Because something is coming.

They call it the God Candle, my son.”

At the time of writing, Bitcoin is trading at $62,824.

Looking at Ethereum (ETH), the trader shares a scenario that suggests a dip below $2,000 would present a golden opportunity for long-term investors.

“I can’t tell you how likely that is to happen.

But if so, then it’s an ETH generation long.”

Looking at the trader's chart, he seems to predict that Ethereum will rise to a new all-time high above $5,000 after the correction.

At the time of writing, Ethereum is trading at $2,480.

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