Price Analysis

Popular Crypto Analyst Reveals Year-End Targets for Bitcoin and Ethereum

Written by: Anjali Belgaumkar

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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Aug 11, 2021

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According to a well-known crypto analyst, Bitcoin and Ethereum might stage big rallies before the end of 2021 as traders overlook the bull market’s second leg. 

If Bitcoin breaks through its current all-time high of $65,000, Justin Bennett tells his 61,600 Twitter followers that he expects it to launch a massive surge well above the six-figure threshold.

Most people underestimate the extent of FOMO (fear of missing out) that will occur at $65,000 $BTC, according to him. The bull market, everyone assumed, had come to an end. If it isn’t, and Bitcoin reclaims $65,000, we will witness unprecedented FOMO. In which scenario, $200,000+ is very much on the table through EOY (end of year).

Although a $200,000 BTC is possible, Bennett believes that the road to a new all-time high will be difficult. 

Although he says that there are no assurances.Bitcoin also has a long way to go to recoup $65,000. It will not be simple. That said, I believe many people are still underestimating the bull market’s potential for a second leg.

He’s also pointing out a major resistance level for Bitcoin that, if broken, will likely set off a rally to $100,000.

The second to last key resistance for BTC before new all-time highs is the $47,000 region. The last is, of course, $65,000. Flip $47,000 to support on the daily and weekly timeframes and the bull run likely continues to $100,000+. Looking for $40,000 to hold as support.”

Bennett is also watching Ethereum, which is building a bullish pattern inside a massive rising channel, according to Bennett.

“Another massive ascending channel. Not shocked.”

According to the trader’s chart, the most popular smart contract platform could reach $18,000, indicating a 475 percent increase from its current price of $3,130. 

Bennett expects the second-largest crypto currency could surge to $3,600 in the short term if it holds a crucial level. Since July, ETH has been a trader’s fantasy. As long as $2,900 remains as support, the next stop is $3,600.”

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Anjali Belgaumkar

Writer by choice, CryptoCurrency Writer, and Researcher by chance. Currently, focusing on financial news and analysis, as well as cryptocurrency news and data. One may not call me a crypto “Enthusiast” but trust me I'm getting there.

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