Crypto currency markets closely followed analyst mentioned that investors will have one last chance to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before witnessing the next bull phase.
Bitcoin’s $60,000 Target
Popular crypto currency analyst Rager, in his statements on social media platforms, mentioned that he is keeping some of his capital on the side in anticipation of another pullback. According to Rager, Bitcoin and Ethereum might experience a correction around the April halving when BTC miners’ rewards are cut in half. The analyst stated the following:
We are holding positions and expect Bitcoin and ETH to pull back in the next few months. This will be the last great opportunity for the cycle.
Taking a closer look at Bitcoin, Rager believes that BTC is ready for a short-term pullback. According to the analyst, the expected pullback could set the stage for Bitcoin to rise above $60,000. The expert stated the following in his remarks:
The uptrend starting from the bottom primarily consists of a few days of strong price movement followed by numerous interruptions and pullbacks. The only period without a significant pullback that saw a continuous decline was from October to January when the BTC spot ETF (exchange-traded fund) approval was in the foreground. There are many upward opportunities in Bitcoin and the market in general, but a short-term pullback can occur. After a pullback and people showing a downtrend, we will likely see another rise breaking $60,000 for the first time since 2021.
Critical Level for Ethereum
At the time of writing, Bitcoin was trading at $51,683. Rager then addressed Ethereum, stating that the leading smart contract platform’s native token is ready to climb higher, concluding with the following:
The question is: How long can ETH stay above $3,000 this time? The target for this rise continues to be $3,500, and I believe we can reach this target sooner or later with the talk of an ETH spot ETF.
