A popular crypto analyst thinks that it’s “hard to be pessimistic” about the Ethereum (ETH) smart contract platform right now.
Pseudonymous crypto trader Inmortal tells its 194,900 Twitter followers that Ethereum’s price at $2,000 matches Bitcoin (BTC)’s price at $6,000 in 2019.
He also points out that ETH has been making macroeconomic lows since the summer of 2022.
“It’s hard to be pessimistic about ETH.”
Look at this structure.
> 2k equals the 6k level of BTC in 2019.
> Macro higher lows since summer 2022.”
Source: Inmortal/Twitter
At the time of writing, Ethereum is trading at $1,831. The second-ranked crypto asset by market cap is down about 2.75% in the past 24 hours.
Inmortal is also optimistic about the overall crypto market over the next year.
“My strategy is simple. I think that in a year the prices will be significantly higher than they are now. So I buy and don’t pay too much attention to the price.”
Analyst says it is “only a matter of time” before BTC surges to $35,000.
Bitcoin is trading at $30,103 at the time of writing. The highest-valued crypto asset by market cap is down about 1.5% in the past 24 hours.
Inmortal also shares his opinion on how to correctly read the mood of the crowd.
“Price increase and bearish post with high engagement = disbelief, people want lower prices, they still remain offside.”
Price surge and bullish post with high exposure = greed, late investors will be underwater when market falls 10%.”
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