Justin Bennet Predicts Huge Rallies for Bitcoin And Ethereum Within 2021
According to Justin Bennett, a prominent cryptocurrency analyst, Bitcoin and Ethereum can pull off massive rallies before the end of 2021. Traders underestimate the second leg of the bull market, he says.
Bitcoin (BTC)
The analyst shares with his 62K Twitter followers that he expects BTC to launch a huge rally, well above the six-figure level, should the leading cryptocurrency break its current all-time high of close to $65,000.
“Most are underestimating the level of FOMO (fear of missing out) that will occur above $65,000 $BTC.
Everyone thought the bull market was over. If it isn’t and Bitcoin reclaims $65,000, we’ll see a FOMO event like never before. In which case, $200,000+ through EOY (end of year) is very much on the table.”
Most are underestimating the level of FOMO that will occur above $65,000 $BTC.
Everyone thought the bull market was over. If it isn't and #Bitcoin reclaims $65,000, we'll see a FOMO event like never before. In which case, $200,000+ through EOY is very much on the table. pic.twitter.com/daiDhNrfpY
While according to Bennet, a $200,000 BTC is possible, he says that the path to a new all-time high won’t come easy.
“As always, there are no guarantees. Also, Bitcoin has a lot of work to do to reclaim $65,000. It won’t be easy. That said, I think many are still underestimating the potential for a second leg to this bull run.”
The analyst pointes out a key resistance for Bitcoin that if broken, the largest crypto asset will likely ignite a run to $100,000.
“The second to last key resistance for BTC before new all-time highs is the $47,000 region. The last is, of course, $65,000. Flip $47,000 to support on the daily and weekly timeframes and the bull run likely continues to $100,000+. Looking for $40,000 to hold as support.”
The second to last key resistance for $BTC before new all-time highs is the $47,000 region. The last is, of course, $65,000.
Flip $47,000 to support on the daily and weekly time frames, and the bull run likely continues to $100,000+.
Bennet says that the leading smart contract platform could top out at $18,000, representing a possible rise of over 475% from its current price of $3,130.
In the short term, the second-largest crypto asset surging to $3,600 provided it holds a key level, says the analyst.
“ETH has been a trader’s dream since July. No shortage of opportunities since rebounding from $1,700.
The next stop is $3,600 as long as $2,900 holds as support.”
$ETH has been a trader's dream since July. No shortage of opportunities since rebounding from $1,700.
