Justin Bennett Predicts $20K Ethereum (ETH) By January 2022

According to Justin Bennett, a popular crypto market analyst and trader, Ethereum (ETH) is getting ready for major rally that could send the second largest crypto 400% up.

Bennett explains his prediction over a series of tweets, where Ethereum could reach to $20,000 by January 2022, assuming that Bitcoin (BTC) doesn’t pullback.

“If $BTC breaks $65,000 without a significant pullback first, $ETH probably matches it with a close above the May trend line.

Would put ETH on track for $20,000 in January.

This is my trigger to ape in more than I already am.”

If $BTC breaks $65,000 without a significant pullback first, $ETH probably matches it with a close above the May trend line.

Would put #ETH on track for $20,000 in January.

This is my trigger to ape in more than I already am. pic.twitter.com/pFlBvXSYWh

— Justin Bennett (@JustinBennettFX) October 19, 2021

According to the analyst rise to $20,000 for ETH is more likely given that too many traders are calling for a high of $10,000. He argues that traders underestimate the capital inflows during a massive bull run.

That's one reason I think $20k happens.

Every time I post this chart, I get multiple comments from people telling me ETH tops at $10k.

Parabolic moves tend to last longer and push prices higher than most expect.

Time will tell.

— Justin Bennett (@JustinBennettFX) October 19, 2021

However, the analyst does warn traders about a possible drop in the short term that could wipe out over-leveraged positions.

“Don’t be surprised if we get a flush this week, potentially toward $53,000 BTC, then all-time highs.

Everyone, including me, is hyper bullish right now, and rightfully so. But that’s when liquidations tend to occur.

Sunday’s $58,900 low is the proverbial line in the sand.”

Don't be surprised if we get a flush this week, potentially toward $53,000 $BTC, then all-time highs.

Everyone, including me, is hyper bullish right now, and rightfully so. But that's when liquidations tend to occur.

Sunday's $58,900 low is the proverbial line in the sand.

— Justin Bennett (@JustinBennettFX) October 18, 2021

In response to another trader/analyst The Birb Nest’s bull run possible sequencing, Bennett expects Bitcoin price to peak between $207K and $270K followed by an 80% correction.

Agree with all points except 1, 4, and 8.

1) $BTC ATH probably takes longer than most expect
4) Fibs point to $207k – $270k
8) $50k – $60k bear market low

On point 8, diminishing corrections for a maturing market. 94%, 87%, and 84% so far in order. Probably 80%ish next.

— Justin Bennett (@JustinBennettFX) October 19, 2021