Last Chance to Buy Bitcoin and Ethereum Before the New High, According to Expert

A cryptocurrency expert, closely followed by the community, shared valuable insight for investors looking for opportunities in the Bitcoin (BTC) and Ethereum (ETH) market. With a keen eye on the future, he foresees one last opportunity to accumulate these coins at more affordable prices before an expected bull run.

This analyst, known only by the pseudonym Rager, has caught the attention of his followers on the well-known social media platform X. He reveals that he is reserving part of his capital to take advantage of a possible decline in the price of cryptocurrencies. According to him, Bitcoin and Ethereum could undergo a correction as early as mid-April, a period that coincides with the halving of BTC mining rewards. “Maintain positions and wait for BTC and ETH to pull back in the coming months to buy close to the halving. This will be the last big opportunity of this cycle,” says Rager.

Taking a deeper look at Bitcoin’s behavior, Rager suggests that the cryptocurrency is preparing for a short-term pullback. He believes this temporary correction will serve as a springboard for BTC to surpass the $60,000 mark.

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

The expert notes that Bitcoin’s recent uptrend was characterized by periods of intense appreciation followed by corrections. However, he highlights that the October-January period, marked by the approval of the first exchange-traded BTC ETF, did not see significant pullbacks.

“Bitcoin and the market in general have many upside opportunities, but could suffer a pullback in the short term. After a pullback and people turning/flopping lower, we are likely to see another explosion to the upside, breaking $60,000 for the first time since 2021,” he explains.

At the time of analysis, Bitcoin was trading at $51,400 and Ethereum at $3,040. Regarding Ethereum, Rager maintains an optimistic outlook. He questions how long ETH will be able to stay above US$3,000, aiming for a target of US$3,500 for the asset in the current run. With the possibility of an ETH ETF in sight, Rager believes this goal could be achieved sooner than expected.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.