A popular crypto analyst, known as CredibleCrypto, shared their predictions for Bitcoin (BTC) and Ethereum (ETH). With over 460,000 followers, their insights carry significant weight in the crypto community.
Bitcoin’s Cautious Outlook
CredibleCrypto sees positive signs for Bitcoin, despite its recent sideways trading. These include:
- Decreased Open Interest: Fewer leveraged positions mean less risk of a market crash.
- Absorbed Selling Pressure: Around $10 billion in spot market selling has been absorbed without a major price drop.
- Balanced Market: A flat funding rate suggests neither buyers nor sellers are dominating the market.
- Shift in Premium: The spot market premium replacing the perpetual contracts premium indicates long-term investors are driving demand, rather than short-term speculators.
However, CredibleCrypto believes Bitcoin’s upside is limited in this cycle, predicting a maximum price increase of only 2 to 2.5 times its current value.
Ethereum’s Explosive Potential
CredibleCrypto is significantly more bullish on Ethereum, suggesting it will outperform Bitcoin. They consider Ethereum the “safest” altcoin and believe it’s poised for substantial growth.
Specifically, if Bitcoin reaches over $150,000, CredibleCrypto predicts Ethereum could surge by at least 207%, reaching a minimum price of $10,000. This is a massive increase from its current price of around $3,253.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies./p>