One closely followed analyst believes that investors will have one last chance to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before the markets see the next bull phase.
The analyst with the pseudonym Rager tells his 199,300 followers on the social media platform X that save Some capital is on the sidelines in anticipation of another withdrawal.
According to Rager, Bitcoin and Ethereum might as well be seen Correction around the halving in April, when BTC miner rewards are halved.
“Hold a position and wait for BTC and ETH to pull back in the next couple of months to buy at around the halving.
“This will be the last great opportunity of this cycle.”
Looking closely at Bitcoin, Rager believes that Bitcoin is poised for a short-term pullback. According to the analyst, its expected rebound will pave the way for Bitcoin price to rise above $60,000.
“The uptrend from the bottom consisted primarily of a few days of strong price action followed by lots of break-ins and pullbacks.
The only time period that saw a sustained grind without a significant decline was the period from October to January where we saw the approval of the BTC spot ETF (exchange-traded fund). [being] Front range.
Bitcoin and the market in general have a lot of upside opportunities coming, but there could be a pullback in the short term. “After pulling back and people flipping lower, we will likely see another push to the upside to break the $60,000 level for the first time since 2021.”
At the time of writing, Bitcoin is trading at $51,683.
As for Ethereum, Rager believes that the native asset of the best smart contract platform is poised to soar.
“The question is how long can ETH stay above $3,000 this time?
The target remains $3,500 in this lead-up, and with the talk of ETH ETFs, I think we can achieve this sooner rather than later.
At the time of writing, ETH is worth $3,031.
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Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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