• Analyst predicts rallies for Coinbase (COIN), MicroStrategy (MSTR), Marathon Digital Holdings (MARA) and Riot Platforms (RIOT).
• Analyst expects Bitcoin to reach a new 2023 high if it can close above $29,700.
• Analyst looks to re-enter the smart contract platform Solana (SOL) after BTC sweeps $29,500.
Analyst Predicts Rallies for Crypto-Proxy Stocks
An analyst who has accurately predicted the bottom of Bitcoin’s 2018 downtrend is now expecting crypto exchange Coinbase (COIN), business analytics firm MicroStrategy (MSTR), digital asset mining companies Marathon Digital Holdings (MARA) and Riot Platforms (RIOT) to experience a reversal after their recent corrective moves.
Outlook on Bitcoin
The analyst believes that if bulls manage to push Bitcoin (BTC) above $29,700 on any four-hour close, then it could reach a fresh 2023 high. At time of writing, BTC is trading for $29,261.
The analyst also notes that he’s looking to accumulate the altcoin Solana ( SOL ) once BTC sweeps $29,500. At time of writing, SOL is worth $23.29, close to Bluntz’s downside target.
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