A prominent cryptocurrency analyst says the next Bitcoin surge could create enough momentum for previously neglected investors to finally jump into BTC.
The anonymous analyst The Crypto Dog told his 804,500 followers on social media platform X that the level at which BTC bulls will regain momentum is $65,000.
“If you earn more than $65,000, you can start to experience serious FOMO (fear of missing out).
“Strength in alternative products may be needed to achieve $70K+.”
According to analysts, the current Bitcoin correction appears to be a “big shakeup” designed to force traders to sell their coins before a major move occurs.
He said a rally is likely to begin if Bitcoin breaks through the diagonal resistance line currently at $62,000.
“The break will be long, and so will many others.”
At the time of writing, Bitcoin was trading at $60,617, and the analyst said he had started taking long positions on BTC.
However, the analyst’s bullish stance on BTC does not apply to altcoins, including Solana (SOL).
The analyst said he expects SOL to lose up to 17% of its current value before stabilizing.
“I think SOL will hit $120… SOL is powerful. It works powerfully whether it goes up or down.”
At the time of writing, SOL was trading at $142.
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Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
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