Bitcoin (BTC) is poised to reach a new all-time high in the next two weeks, according to an influential analyst. Going by the pseudonym Bluntz, this analyst, who has a substantial following of 256,600 on the social media platform X, believes that Bitcoin is currently experiencing a surge in its third wave.
Bluntz employs the widely recognized Elliott Wave theory in his analysis. This theory suggests that assets typically undergo a five-wave rally, with the third wave being the longest and most powerful upward movement.
In Bluntz’s own words, “I anticipate that Bitcoin will achieve a fresh all-time high within the next one to two weeks. From a broader perspective, I believe that we are currently in the fifth wave of a larger third wave, with a few more upward movements still to come. Ultimately, I expect Bitcoin to peak at around $120,000 during this cycle.”
Looking at Bluntz’s chart, it becomes evident that he predicts Bitcoin will rally to $90,000 from its present levels before experiencing a correction in the form of a fourth wave, dropping back down to $80,000. Following this retracement, Bluntz foresees Bitcoin skyrocketing to $120,000 for the fifth and final wave.
As of now, Bitcoin is trading at $66,836, reflecting a gain of over 2% in the past 24 hours.
Bluntz is also keeping a close eye on Near (NEAR), a competitor to Ethereum (ETH). According to this top analyst, NEAR appears ready for an upward burst after completing an ABC corrective wave.
“Near is showing great potential here. It has been one of the most robust performers since the lows and will likely be one of the first to achieve new highs.”
Based on Bluntz’s chart, NEAR is anticipated to rally as high as $12. At the time of writing, NEAR is valued at $7.02, representing an increase of over 9% in the last day.
It is important to note that the opinions expressed by Bluntz at The Daily Hodl do not constitute investment advice. Investors are advised to conduct their own thorough research before engaging in any high-risk investments involving Bitcoin, cryptocurrencies, or digital assets. Transfers and trades should be executed at one’s own discretion and risk, with any losses incurred being the sole responsibility of the individual. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, nor does it operate as an investment advisor. It is worth noting that The Daily Hodl engages in affiliate marketing.
