Bitcoin Primed for a Massive Rally to a Six-Figure Price, According to Crypto Analyst – But There’s a Catch

A widely followed crypto analyst says that Bitcoin (BTC) appears primed to skyrocket to a six-figure price tag but warns investors that it may go through a correction first.

In a new thread, pseudonymous crypto trader Inmoral tells his 230,800 followers on the social media platform X that the crypto king will make a pit stop around the $85,000 level before shooting up to $100,000.

“$90,000 > $85,000 > $100,000.”

The trader’s chart indicates that the top crypto asset by market cap will once again cross into six-figure territory sometime in May.

According to Inmortal, the $90,000 level is where the flagship digital asset will be tested. However, before it can cross that barrier, its monthly open – or the price it opened up the month with – needs to be retested.

BTC is trading for $87,015 at time of writing, a fractional increase during the last 24 hours. On March 1st, BTC opened up with a price of $84,373.

Moving on to the smart contract platform Solana (SOL), Inmortal says the Ethereum (ETH) rival is primed to bounce back from its recent dip of over 60%, as it did in 2021 before it sparked a massive rally.

“In 2021, SOL did a -67% right before a +1200% Just a reminder, the current -61% dip is not a game over.”

Solana is trading for $134.60 at time of writing, a 1.2% decrease during the last day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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