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NewsBTC 2024-02-27 00:05:21

Crypto Analyst Sounds Warning Alarm: Last Chance To Buy Bitcoin And Ethereum Before Bull Run

Crypto Analyst Sounds Warning Alarm: Last Chance To Buy Bitcoin And Ethereum Before Bull Run

Crypto analyst Rager recently provided valuable insights to Bitcoin and Ethereum investors ahead of the imminent bull run. As part of his statements, he revealed the best time to go all in on the two largest crypto tokens by market cap, Bitcoin and Ethereum. “Last Great Opportunity For This Cycle” Rager opined in an X (formerly Twitter) post that the “last great opportunity for this cycle” will come around the Bitcoin Halving. In line with this, he also stated that he was still holding spot in positions and waiting for the “BTC and ETH pullback”, which he explicitly predicts will happen between now and May. Related Reading: Crypto Analysts Are Giga-Bullish On XRP Price, Set Multiple Price Targets Going by Rager’s opinion, this “nice dip” presents the perfect time for crypto investors to position themselves ahead of this cycle’s bull run. His statement also suggests that Bitcoin and Ethereum (and possibly other crypto tokens) will run massively after that pullback occurs. Interestingly, analysts have continued to identify this event as what will kickstart the next bull run. BTC price recovers above $51,000 | Source: BTCUSD on Tradingview.com Bitcoin Run To $60,000 Might Be Close In a subsequent X post, Rager gave an idea of what price level Bitcoin could drop to when the crash occurred as he hinted that he wouldn’t invest until Bitcoin dropped to $48,000. He also provided an analysis of Bitcoin’s current price action, noting that it has been “composed of a few days of strong price action followed by a lot of chop and pullbacks.” He added that Bitcoin and the broader crypto market “has a lot of upside opportunity.” However, he warned that there could likely be a short-term pullback, which he predicts could be the last great opportunity to invest. Rager also claimed that Bitcoin would break the $60,000 resistance for the first time since 2021 once this pullback is done. ETH To $3,500 Is The Next Target In another X post, Rager mentioned that the $3,500 price level is the target for the current bullish momentum in the market. He also believes this will likely happen “sooner rather than later” with the help of the Ethereum Spot ETF rumours. Industry experts have expressed confidence that these funds will be approved. Related Reading: Solana Drops Below 100-Day MA On 4-Hour Chart, SOL Price In Danger? $3,500 is just Rager’s first target for Ethereum in this cycle’s bull run, noting that it isn’t the “peak high by any means.” Meanwhile, the analyst stated that the peak of this bull run is still far off. Using the crypto fundraising data as an indicator to determine when the market top is almost in, he noted that fundraising was still at lower levels compared to peak bull market activity. Featured image from LAB51, chart from Tradingview.com

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