Updated: 7 months
• An analyst who is popular on Twitter predicts rallies for Coinbase (COIN), MicroStrategy (MSTR), Marathon Digital Holdings (MARA) and Riot Platforms (RIOT).
• The same analyst also expects Bitcoin (BTC) to hit a new high above $32,000 if it can close back into the range above $29,700.
• He recommends accumulating Solana (SOL) after BTC sweeps $29,500.
Analyst Predicts Rallies for Crypto-Proxy Stocks
Analyst Bluntz, who accurately predicted the bottom of Bitcoin’s 2018 downtrend, believes that stocks with exposure to the crypto industry are far more bullish than the digital asset markets. He sees potential strong reversals as these stocks have recently experienced dips of 13%-20%.
Outlook on Bitcoin
The pseudonymous trader says that if bulls can push BTC back into the range above $29,700 then they could potentially send it to a fresh 2023 high at around $32,000. At time of writing, BTC is trading at around $29,261.
Smart Contract Platform Solana
Bluntz recommends accumulating Solana once BTC has swept past $29,500. At time of writing SOL is worth roughly $23.29 which is close to Bluntz’s downside target.
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Overall this article outlines one analyst’s predictions on four crypto proxy stocks in addition to his outlook on Bitcoin and Solana prices over the next few weeks or months.