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A closely-watched analyst believes that investors will have one last opportunity to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before the market enters the next bullish phase. Anonymous analyst Rager told his 199,300 followers on the social media platform X that he is keeping an eye on some funds in case there is another pullback. Rager suggests that Bitcoin and Ethereum might experience adjustments around the time of the halving in April when Bitcoin miners' rewards will be halved. "Hold spot positions, wait for the dip in BTC and ETH over the coming months, buy around the halving. It will be the last big opportunity of this cycle." Observing Bitcoin closely, Rager believes that Bitcoin is prepared for a brief pullback. The analyst states that the expected pullback will lay the foundation for Bitcoin to rebound to over $60,000. "The uptrend starting from the bottom mainly includes strong price movements for a few days, followed by a substantial drop and pullback. From October to January, we saw the approval of Bitcoin spot ETFs leading the way, a period of continuous rise with no significant pullback. There are many upward opportunities for Bitcoin and the market overall, but short-term pullbacks may occur. After the pullback and the bearish sentiment, we are likely to see another rise, breaking $60,000 for the first time since 2021." As for Ethereum, Rager believes that the native asset of the top smart contract platform is about to rise. The question is how long ETH can stay above $3,000 this time? The target for this rise is still $3,500, and with the discussion of ETH spot ETFs, I believe we will reach this target sooner or later. |
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Post time 4-3-2024 08:03:18