‘Inmortal’: Ethereum To Rally 70% By Oct 2021, Bullish on ETH & BTC In Long Run
A cryptocurrency analyst known in the industry as ‘Inmortal’ expects both Bitcoin and Ethereum to perform well toward the end of the year.
However, Inmortal shares with his 56K Twitter followers that he believes Ethereum is ripe to ignite a strong rally against Bitcoin (ETH/BTC) and surge as high as 0.11 BTC, worth about $4,224 at time of writing.
A “flippening,” or an overtaking of Bitcoin in terms of market cap, is in store for Ethereum, according to the analyst.
“This consolidation will come to an end soon. The flippening is knocking the door.”
This consolidation will come to an end soon. The flippening is knocking the door.
If the price prediction happened, it would mean gains of over 70% from ETH/BTC’s current value of 0.0653 BTC or $2,507. According to the Inmortal’s chart, ETH/BTC could achieve the price target by October.
Regardless, the trader also sees the leading cryptocurrency meteorically rising to a new all-time high of around $80,000 by November. Bitcoin’s daily chart looks very similar to its price action at the start of 2020 when BTC rallied from $7,000 to $10,000 in a few weeks, says Inmortal.
Zooming out on Bitcoin, Inmortal believes that the current boom cycle will be longer than its predecessors. He also predicts that BTC could top out at $150,000 in the first half of 2022.
After this current Bull cycle, however, the trader forecasts a massive 80% drop in BTC’s value to around $30,000, where it could bottom out and enter a new phase of consolidation by 2023.
