A highly regarded analyst within the crypto community believes that investors are presented with a final opportunity to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before the market enters its next bullish phase.
The pseudonymous analyst, known as Rager, shared with his substantial following on the social media platform X that he is holding back some capital in preparation for a potential pullback. Rager anticipates that Bitcoin and Ethereum may experience a correction around the April halving event, which marks a reduction in rewards for BTC miners.
In his analysis, Rager predicts that Bitcoin is set for a brief retracement, creating an opportunity for the cryptocurrency to surge above $60,000. He notes that historical trends show sporadic price actions followed by periods of consolidation, with the potential for a significant pullback before another bullish run to break the $60,000 mark.
As of the latest update, Bitcoin is trading at $51,683. Meanwhile, Rager points out that Ethereum, the native token of a leading smart contract platform, is positioned for upward movement. He sets a target of $3,500 for Ethereum in the current rally, citing discussions around an ETH spot ETF as a catalyst for accelerated price growth.
At the time of this writing, Ethereum is valued at $3,031. Rager’s insights provide valuable information for investors looking to strategically position themselves in the volatile yet promising crypto market.
