Last Chance to Accumulate Bitcoin and Ethereum at Lower Levels Before Next Bullish Phase, Analyst Says
A well-known strategist believes that investors will have one final opportunity to accumulate Bitcoin and Ethereum at lower levels before the next bullish phase in the cryptocurrency market. The analyst, who is followed by nearly 200,000 people on social media, anticipates a pullback in the coming months around the Bitcoin halving, which is seen as an ideal time for investment.
According to the analyst, known as Rager, this upcoming correction could be the last great opportunity for this cycle to buy BTC and ETH at lower prices. They suggest maintaining cash positions and waiting for the decline in the price levels of both cryptocurrencies before making a move around the halving event in April.
Rager predicts that Bitcoin could surpass $60,000 following the anticipated pullback, while Ethereum is aiming for a target of $3,500 in the near term. Bitcoin is currently trading at $51,700, and Ethereum is trading at $3,100 at the time of writing.
The analyst believes that Bitcoin is primed for a short-lived pullback, setting the stage for a potential breakout above $60,000 for the first time since 2021. They point out that the recent uptrend in Bitcoin’s price has been characterized by strong price action followed by periods of sideways movement and pullbacks.
Regarding Ethereum, Rager is optimistic about the asset’s outlook, stating that it is ready to move higher. The target price for Ethereum in the current rally is $3,500, with discussions about the potential introduction of an ETH spot ETF fueling further optimism in the market.
Overall, the analyst sees opportunities for significant gains in both Bitcoin and Ethereum in the coming months, but advises investors to be prepared for a short-term pullback before the next bullish phase in the crypto market.