A popular analyst thinks investors have one last chance to accumulate bitcoin (BTC) and ethereum (ETH) at lower levels. Before the markets enter another bull rally.
Bitcoin price above $60,000?
Anonymous analyst Rager tells his 199,300 followers on social media platform X that he is keeping some capital on the sidelines in anticipation of another pullback.
Nothing much has changed for me
Holding spot in positions and waiting for the $BTC and $ETH pullback in the next couple months to buy around halving
That will be the last great opportunity for this cycle IMO
— Rager (@Rager) February 20, 2024
According to Rager, bitcoin and ethereum could see a correction around the April halving, once the block subsidy for bitcoin miners cuts in half. Looking at bitcoin, Rager thinks BTC is ripe for a short-term pullback. According to the analyst, there will be another pullback before bitcoin rises above $60,000.
I have a portion or total capital in Bitcoin and crypto
I always have cash to utilize
I’m not fully risk on until after halving
— Rager (@Rager) February 20, 2024
The only period of sustained upside without a significant pullback was from October to January, with investors front-running the adoption of the BTC spot ETF (exchange-traded fund). At the time of writing, Bitcoin is trading at ~$51,700.
The uptrend from the bottom has been primarily composed of a few days of strong price action followed by a lot of chop and pullbacks
The one time period with sustain grinding up without substantial pullback was from Oct to Jan where we saw the BTC spot ETF approval be front run… pic.twitter.com/GqQlXY1cTX
— Rager (@Rager) February 23, 2024
Ethereum
As for Ethereum, Rager thinks this cryptocurrency is poised to move higher.”The question is how long can ETH stay above $3,000 this time? The target remains $3,500 for this rebound, and with the talks about the ETH spot ETF, I think we can get there sooner rather than later.”
Question is how long can $ETH stay above $3000 this time
Target remains $3500 for this run up, and with the ETH spot ETF talk think we can hit this sooner rather than later pic.twitter.com/cIs2gsGOAd
— Rager (@Rager) February 22, 2024
Source: https://bitcoinmagazine.nl/nieuws/analist-laatste-grote-kans-om-bitcoin-btc-en-ether-eth-te-kopen-voor-bullrally
