Crypto Bull Likely Far From Completed For Bitcoin And Ethereum, Analysts Say

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The cryptocurrency markets are back in record territory. Bitcoin has crossed $ 66,000, while Ethereum is trading above $ 4,700. Unsurprisingly, the price predictions are back. And with the larger market cap of cryptocurrencies now reaching $ 3 trillion, the bulls are clearly in control.

Hindsight is 20/20

Popular technical analyst Adrian Zduńczyk, known as Crypto Birb on Twitter, has never given up on the bull market. Crypto Birb, who is also behind the institutional trading group The Birb Nest, recently reminded subscribers that he accurately predicted bitcoin would hit a new all-time high months before it surpassed 66,000. $ in October.

Over the summer, fear had taken hold of the market and investors were selling BTC at the $ 30,000 level in anticipation of the bottom falling. Crypto Birb’s bullish call was perfect back then, and now he’s eyeing bitcoin at $ 80,000, saying that price point is “imminent.”

In a market update, he uses chart pattern analysis and cites upper and lower Bollinger Bands, concluding that technical analysis is bullish although any FUD in the news cycle could push prices down. .

$ BTC $ 80,000 is imminent. Here is my full explanation👉https: //t.co/wekZtn48nH pic.twitter.com/UV7STNwduV

– CRYPTO₿IRB (@crypto_birb) November 7, 2021

Ethereum $ 20,000

Ethereum is already trading in record territory, after crossing the $ 4,700 threshold on Sunday. Crypto Birb believes Ethereum has more earning possibilities and recently set a super bullish price target of $ 20,000 on the second largest cryptocurrency. He expects these forecasts to materialize in the coming months. If he’s right, Ethereum’s value will increase by around 325% by the start of 2022.

Ethereum has already grown 525% year-to-date as the NFT and DeFi markets have exploded. Ethereum is in the process of moving to Eth 2.0, which is designed to boost network scalability and drive down fees, all of which are catalysts for potential new earnings. Ethereum has faced stiff competition from emerging blockchains like Solana, whose price also recently hit a new high.

Meanwhile, Gemini co-founder Tyler Winklevoss celebrated Ethereum’s new record by saying, “Eth is money.”

Eth is money, hit an all-time high. Phew!

– Tyler Winklevoss (@tyler) November 8, 2021

Channel analyst Matthew Hyland also predicts that Ethereum’s bull run is far from over. Hyland recently tweeted that “Ethereum is just getting started,” indicating a prediction for an “extreme move” to the over $ 14,000 level and comparing it to the 2017 market.

#Ethereum is just getting started …

The extreme movement is coming

$ 14,000 + pic.twitter.com/5XSYoxAJ6F

– Matthew Hyland (@Parabolic_Matt) November 1, 2021

After the weekend rally, Ethereum is halfway to joining the $ 1,000 billion market cap club.

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