A popular crypto analyst and trader says that Bitcoin may consolidate for a while while Ethereum leads an altcoin rally. The analyst known as Inmortal tells his followers that despite the recent correction from Bitcoin (BTC) all-time high at $67,276.79, he is still not willing to buy from the bottom.
Analyst drew attention to LINK, ATOM and leading altcoin ETH
Cryptocoin. com, Bitcoin broke a record and then retreated. According to the analyst, it may take several weeks for Bitcoin to correct as other cryptocurrencies make new price gains. On the other hand, Inmortal had previously predicted that Ethereum would break out of an ascending channel to $6,300 by mid-November. According to Inmortal, the Ethereum rally will encourage other altcoins to do the same. “BTC consolidates around $60,000 for a few weeks, then takes ETH altcoins to heaven,” the analyst says.
Another altcoin that will be on Inmortal’s radar when the markets rise is the decentralized oracle network Chainlink (LINK). According to the crypto strategist, a 66 percent rally for LINK is on the horizon and it’s only a matter of time before $50 is reached.
Inmortal is also on the rise for Cosmos (ATOM), which aims to be an “internet of blockchains”. According to the crypto strategist, ATOM could take one more step before breaking above $40 next month.