The last big opportunity to accumulate Bitcoin and Ethereum is coming, says crypto strategist – here is the time
A closely watched analyst believes investors will have one last chance to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before the markets enter the next bull phase.
Pseudonymous analyst Rager tells his 199,300 followers on social media platform X that he is holding back some capital in anticipation of another pullback.
According to Rager, Bitcoin and Ethereum could see a correction around the April halving when BTC miners' rewards are halved.
“I am holding my position and waiting for BTC and ETH to decline over the next few months to reach around the halving.”
This will be the last big chance for this cycle.”
Looking closer at Bitcoin, Rager believes that BTC is primed for a short-lived pullback. According to the analyst, its expected decline will set the stage for Bitcoin to rise above $60,000.
“The uptrend from below consisted mainly of a few days of strong price action followed by a lot of fluctuations and pullbacks.
The only period of sustained uptrend without a significant decline was from October to January when we saw the approval of the BTC spot ETF (Exchange Traded Fund). [being] Foreleg.
Bitcoin and the market in general offer plenty of upside opportunities, but there could be a short-term decline. After a pullback and a pessimistic flip/flop from people, it is likely that we will see another breakout to the upside and break $60,000 for the first time since 2021.”
Source: Rager/X
At the time of writing, Bitcoin is trading at $51,683.
As for Ethereum, Rager believes that the native asset of the top smart contract platform will continue to rise.
“The question is, how long can ETH stay above $3,000 this time?
The target remains at $3,500 for this lead-up and I think we can reach that target sooner rather than later with the ETH spot ETF discussions.”
Source: Rager/X
At the time of writing, ETH is worth $3,031.
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