Bitcoin Could See A Rally Soon – How High Can BTC Price Go?

According to the latest reports, Bitcoin could soon see a rally. Check out the latest details about BTC’s price below.

At the moment of writing this article, BTC is trading in the green, and the king coin is priced at $16,943.

A popular crypto strategist and trader reportedly believes that Bitcoin (BTC) and one Ethereum (ETH) rival are gearing up for huge rallies.

Pseudonymous analyst Inmortal said that he sees Bitcoin rallying close to $30,000 in the coming months. This could reportedly happen before a final capitulation event that takes BTC to $12,500 later this year.

Here’s what he had to say:

“Two relevant levels: 2018 and 2021 yearly open. > Bear market rally mid 2023 > Sub-20,000 in late Q4.”

The analyst is also checking out the potential price of Ethereum challenger Solana (SOL).

Inmortal expects SOL to rally close to 50% in the next few months. According to the crypto strategist, traders who keep shorting Solana will generate the fuel for SOL’s rally toward his price target.

“Generational bottom or not, sub $10 buyers are doing pretty well.

+60% from the lows.

I think we’ll see $20 SOL this Q1.”

Regarding the price of BTC, the analyst mentioned above is not the only one who is predicting the price for the king coin. Earlier today, we also revealed that Mike McGlone, Bloomberg’s senior macro strategist, says Bitcoin (BTC) is “poised to come out ahead” after the current bear market. He also said that it could take a serious price dip first.

McGlone noted in a new analysis that the potential for a global recession this year could turn into the very top factor in determining Bitcoin’s price.

“Our bias is that Bitcoin is more likely to come out ahead in most scenarios, but if the inverted yield curve is an indication, economic growth will ebb sharply, with implications for all assets. The benchmark crypto could revisit good support at around $10,000-$12,000 before resuming its enduring upward price trajectory.”