A popular crypto strategist sets a price floor and a realistic timeline for leading crypto Bitcoin (BTC) to rise once again as the markets suffer deep dips.
Analyst shared the roadmap for Bitcoin
Cryptocurrency analyst named Inmortal, whose analysis we have included in the news of Kriptokoin.com, has 155,300 Twitter followers, the latest % of the leading crypto Bitcoin (BTC) last week. After its capitulation of 25, he says he expects the leading digital asset to hold steady between $25,000 and $30,000. The analyst shares a chart with the route he predicts Bitcoin will take:
I think it will be like this.
Source: Inmortal / Twitter The veteran analyst warns investors to be patient as he shares a chart showing that Bitcoin is only about halfway through the current market cycle. For its followers, Inmortal explains:
It took about 400 days to find the bottom in previous cycles. In the current cycle, 178 days have passed since the peak. So if this cycle is similar, we’re halfway there.
Source: Inmortal / Twitter Popular crypto analyst Inmortal analyzed the price of Bitcoin (BTC) in 2022 in the spring of last year, before hitting an all-time high of $69,000 in November. and concludes by comparing it to the price at the beginning of summer. According to the analyst, the current downward chart pattern is the same as that of 2021. The analyst uses the following statements:
There is only a small deviation in 3D.
Source: Inmortal / Twitter BTC price performance
US inflation data, which is the focus of investors, was released today and the figures came in above expectations. Risky assets began to be sold as this was perceived as a sign that the Fed could falter even more. Of course, the most affected market was the cryptocurrency market. Leading crypto Bitcoin deepened its decline at the beginning of the week and sank below $30,000.
According to CoinMarketCap, at the time of writing, Bitcoin was trading at $29,700 with a loss of 5.33% in the last 24 hours at the time of writing. Currently, BTC is about 57% off the all-time high of $69k, which it saw about 6 months ago.
Bitcoin 7-day price chart / Source: CoinMarketCap 
32819
