- Crypto analyst Bluntz predicts that dogwifhat (WIF) could increase in value by 272%, highlighting the potential of the Solana ecosystem.
- Bluntz suggests Bitcoin could swing sideways before surpassing $45,000, following Elliott Wave-based analysis.
A high-profile crypto analyst, who got Bitcoin’s 2018 low right, is now pointing his projections toward a meme currency from the Solana ecosystem, anticipating a dramatic rise. Bluntz, as he is known on the interwebs, has told his followers that dogwifhat (WIF), could increase in value by more than 250%.
This prediction is based on the observation of a pattern of three descending waves in the daily chart of WIF, which, according to Bluntz, could have come to an end.
Using Elliott Wave theory, which postulates that major trends develop in five-wave patterns and corrections in three, Bluntz forecasts an approximate 272% upside in WIF’s price from its current price. At the time of this projection, WIF is trading at $0.222, marking a 4.2% increase over the past day.
Aside from his interest in altcoins, Bluntz has also offered his analysis on Bitcoin, suggesting that this flagship cryptocurrency will likely move within a sideways range before seeking a breakout to the upside.
He describes recent Bitcoin price activity as “very boring,” but anticipates that “peak pain” would involve moves that sweep both ends of the current range.
Bitcoin trades at $47,662.04 at the time of writing.
These projections not only shed light on the hidden potential in cryptocurrencies like WIF within the burgeoning Solana ecosystem, but also on the ever-present dynamics of Bitcoin in the market .
While the prediction on WIF underscores the opportunities that can arise in even the most speculative trends in the crypto market, the analysis on Bitcoin reaffirms the importance of being alert to market fluctuations, ready to act in an environment that, despite its periods of apparent calm, is fraught with the potential for volatility and growth.
