A well-known analyst predicts that Bitcoin (BTC) will reach a new record high in the next two weeks. Bluntz, an analyst who goes by a pseudonym, shares his insights with his large following on the social media platform X. According to Bluntz, Bitcoin is currently experiencing a surge in wave three, based on the Elliott Wave theory he utilizes in his analysis. This theory suggests that assets typically go through a five-wave rally, with wave three being the longest and strongest upward move.

Bluntz states, “I expect Bitcoin to reach a new all-time high within the next one to two weeks. From a broader perspective, I believe we are currently in wave five of a larger wave three, with a few more upward movements to come. Ultimately, I anticipate that we will reach a peak of around $120,000 in this cycle.”

Analyzing Bluntz’s chart, it appears that he predicts Bitcoin will rally to $90,000 from its current levels before experiencing a correction in wave four down to $80,000. Following this retracement, Bluntz expects Bitcoin to soar to $120,000 for the fifth and final wave.

As of now, Bitcoin is trading at $66,836, showing a growth of over 2% in the last 24 hours.

Bluntz is also keeping a close eye on Near (NEAR), a competitor to Ethereum (ETH). According to the analyst, NEAR seems poised for an upward burst after completing an ABC corrective wave.

“NEAR is looking very promising at the moment. It has been one of the strongest performers since the lows, and it will likely be one of the first to reach new highs.”

Based on Bluntz’s chart, it seems that NEAR could rally as high as $12. Currently, NEAR is valued at $7.02, marking a growth of over 9% in the past day.

Remember to subscribe to receive email alerts and stay up to date with the latest news. Follow us on Twitter, Facebook, and Telegram. Don’t miss out on the Daily Hodl Mix.

Disclaimer: The opinions expressed in this article are not financial advice. Investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please note that all transfers and trades are done at your own risk, and you are solely responsible for any losses incurred. The Daily Hodl does not endorse the buying or selling of any cryptocurrencies or digital assets, and it is not a financial advisor. Please be aware that The Daily Hodl engages in affiliate marketing.