Volatility and uncertainty in the cryptocurrency market lead investors to constantly follow market analysis and update their strategies. Recently, many analysts and experts have been warning that leading cryptocurrencies such as Bitcoin and Ethereum may experience a correction in the coming period.
A popular analyst known by the pseudonym Rager is among the experts who think this way. The analyst believes that investors may have one last chance to accumulate Bitcoin (BTC) and Ethereum (ETH) at lower levels before a significant move in the cryptocurrency markets.
According to the analyst, Bitcoin’s upcoming halving event could lead to a potential correction in prices. From where it could be. Such events have often led to significant price fluctuations in cryptocurrency markets. This event, in which BTC miners’ rewards were halved, has been an important factor affecting prices throughout history. Therefore, analyst Rager expresses his expectation of a correction in this period and warns investors to be prepared for a possible decline period.
According to Rager, investors may be facing a final opportunity to accumulate Bitcoin and Ethereum at lower levels. This idea can be seen as a significant opportunity considering the potential for future price increases. However, it is important to remember that every investment strategy carries its own risks and everyone should act according to their own risk tolerance.
“We are holding positions and expect Bitcoin and ETH to pull back to halve in the next few months. “This will be the last big opportunity for the next cycle.”
Examining Bitcoin in more detail, Rager thinks that BTC is ready for a short-term pullback. According to the analyst, the expected withdrawal will pave the way for Bitcoin to rise above $ 60,000.
“An uptrend starting from the bottom consists primarily of a few days of strong price action followed by numerous sideways moves and pullbacks.
The only period of sustained uptrend without a significant pullback was from October to January, when we saw the BTC spot ETF approval come to the fore.
There are many upside opportunities in Bitcoin and the market in general, but a short-term pullback could occur. “After a pullback and people being bearish, we will likely see another rally to break $60,000 for the first time since 2021.”
At press time, Bitcoin is trading at $51,632.
Finally, when it comes to Ethereum, Rager thinks the native presence of the top smart contract platform is poised to rise even higher.
“The question is: How long can ETH stay above $3,000 this time? “The target for this uptrend remains $3,500, and I think ETH could reach that target sooner rather than later with spot ETF talk.”
At the time of writing, the value of ETH is trading at $3,018.
You can follow the current price movement here.
