A prominent analyst, known for his accurate predictions in the crypto space, believes that Bitcoin is about to follow the surging stock market and reach new all-time highs. The analyst, who goes by the pseudonym Bluntz, recently informed his large following of 265,000 on the social media platform X that Bitcoin has the potential to initiate a rally if it surpasses the $60,000 mark convincingly.
Currently trading at $64,774, the crypto strategist now believes that Bitcoin is ready to outshine the stock market. He stated, “Crypto wasn’t leading, it was lagging. The great catch-up begins.” Bluntz also predicts that Bitcoin is gearing up to experience a “god candle,” which refers to a significant spike in price that results in a large candlestick pattern.
Taking a broader view, Bluntz suggests that Bitcoin may have hit its lowest point earlier this month when it dropped below $55,000. During this dip, BTC bulls stepped in and accumulated, signaling a potential recovery. The analyst points out that Bitcoin is currently exhibiting a hammer candlestick pattern on the monthly chart, indicating that momentum is shifting in favor of the bulls.
Bluntz expressed excitement about the monthly BTC candle, stating, “I know there are still [15] days to go but damn that monthly BTC candle is straight fire.”
In a separate development, crypto analytics firm Santiment noted that Bitcoin and other cryptocurrencies started showing signs of life after news broke about an assassination attempt on former President Donald Trump during a rally in Pennsylvania over the weekend. Santiment suggests that this event may have awakened Bitcoin and the broader crypto market.
As always, it is important for investors to conduct their own research and exercise caution when investing in high-risk assets like Bitcoin, cryptocurrencies, and digital assets. The Daily Hodl, where this article is sourced from, does not offer investment advice and recommends readers to perform due diligence.
