Investment IQ: Bitcoin, Solana, and Crypto Markets in "Classic Bear Trap" Before Euphoric Surge
A well-followed analyst, InvestAnswers, believes Bitcoin (BTC), Solana (SOL), and other crypto assets are currently in a "classic bear trap" before a major bullish move.
Key Takeaways:
Bear Trap Scenario:
The drop in crypto prices is misleading, making it appear like the start of a downtrend.
However, it is a temporary phase before a strong upward movement.
Bull Market Confidence:
The analyst is 95% certain that the bull market is still intact.
This bear trap is designed to shake out weak hands.
"Do not panic, do not leave now," warns the analyst.
Bitcoin's Strength:
Bitcoin has remained stable around $82,000 for the past 7-8 days.
A double-bottom pattern suggests a positive reversal.
Current BTC price: $81,602.
Solana's True Value:
Solana is "drastically undervalued" compared to its potential.
A model based on adoption, transactions, and income suggests Solana's market cap could be $24 trillion if priced like Bitcoin.
This would make Solana 12 times more valuable than BTC in such a scenario.
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