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A popular cryptocurrency market analyst says it’s hard to see a bear market in smart contract platform Ethereum (ETH) right now. written by Daily Huddlethe number of followers of the Twitter account of this trader, who is known by the nickname Inmortal, reached 194,900 people, and by publishing a post, he announced that Ethereum at $2000 is now like Bitcoin at $6000 in 2019.
Inmortal noted that the price of Ethereum has reached the peak of the fall in the price of this cryptocurrency in the summer of 2022. Each unit of the world’s second-largest cryptocurrency by market capitalization is trading at $1,915 at the time of writing. The analyst also has a positive outlook for the overall digital currency market in the coming year.
“My strategy is simple,” Inmortal said in part of his explanation. I think the prices will be higher next year than they are now and so I will buy and not pay much attention to the prices. It only takes a little time for the price of each bitcoin unit to reach the level of $35,000.
Each Bitcoin unit is traded at $30,500 at the time of writing this article. The market value of the king of cryptocurrencies also decreased by 1.5% in the last 24 hours.
Inmortal also shared his opinion on how to properly recognize the emotions of the crowd. He says, “Increasing the price and publishing bearish posts with high engagement equals disbelief; In this situation, people are looking for lower prices and are still on the sidelines. On the other hand, increasing the price and publishing bullish posts with high interaction shows greed.”
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