Ethereum Altcoin Dubbed 'Top Choice' in Bear Market by Trader; Foresees Bitcoin and ETH Surge

Prominent trader believes an Ethereum (ETH)-backed altcoin stands strong for long-term amidst ongoing crypto downturn.

Analyst Inmortal, with 199K followers on platform X, suggests traders are overlooking Chainlink (LINK). He presents a chart indicating LINK's steady base since May 2022, hinting at potential significant returns once out of the accumulation phase. He deems it a prime opportunity in the bear market, emphasizing a 1-2 year holding period

Source: Inmortal/X

In technical trading, there's a belief: 'the longer the base, the higher the potential rise.' This suggests assets with extended base-building often experience more robust rallies upon breakout. Currently, LINK stands at $8.15. As for Bitcoin (BTC), Inmortal foresees a significant uptrend, hinting, 'Forget $20,000; brace for $40,000.'

Source: Inmortal/X

Currently, Bitcoin is priced at $27,048. Inmortal anticipates Ethereum, the top smart contract platform, to experience a significant surge against both the US dollar and its BTC pairing in the upcoming months. He queries, 'Does anyone else recognize the potential in ETH as I do?

Source: Inmortal/X

Currently, Ethereum is trading at $1,674."

Oct 02, 2023

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