Cryptocurrency analysts say: Bitcoin ETF demand may rise
Against the backdrop of falling Bitcoin prices, the recent Bitcoin ETF spot market has been bleak.
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Prominent Crypto Analyst Forecasts Bitcoin and Ethereum Trends
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Insightful Predictions for Major Cryptocurrencies
In a recent analysis, a renowned figure in the cryptocurrency sphere, often noted for his bearish outlook, shared intriguing forecasts for Bitcoin (BTC) and Ethereum (ETH). His insights come as the year draws to a close, shedding light on possible future trends.
Discussing Bitcoin, the analyst opined that the cryptocurrency could experience fluctuations if its value hovers between $40,000 and $45,000. This scenario might trigger intermittent surges in certain alternative coins (altcoins). Nonetheless, he suggested that some altcoins might have already peaked in value, without specifying which ones.
The analyst's perspective on Bitcoin includes a potential uptick, with liquidity being drawn from a range of $45,000 to $46,000, possibly leading to a reversal in its value trend. He also posited that a bearish phase could be confirmed should Bitcoin close below $41,000 on a high time frame chart or experience a marked decline below $40,000 on a low time frame chart.
Turning his attention to Ethereum, the analyst forecasted a rise for this leading altcoin, suggesting it might reach between $2,500 and $2,600, and subsequently establish a local peak. His analysis comes amid a recent uptrend for Ethereum.
Additionally, the analyst commented on Binance Coin (BNB), indicating a search for bearish signals on the low time frame chart. This is seen as an anticipation of a potential decline following its recent ascent.
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