Crypto Analyst Sounds Warning Alarm: Last Chance To Buy Bitcoin And Ethereum Before Bull Run
February 26 2024 - 7:05PM
NEWSBTC
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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