Top Analyst Predicts 18 Months Will Be ‘Absolute Pleasure’

The anonymous host of InvestAnswers says that Bitcoin (BTC) and Ethereum (ETH) will go up in price.

In a new video, the host tells his 445,000 YouTube followers that he wouldn’t be “surprised” if Bitcoin reached $42,000 by April 2024.

His guess is based on the way the options market works. InvestAnswers says that there is more interest for Bitcoin’s call options than for its put options, which is “very bullish.”

Call options are contracts that give the holder the right to buy an underlying asset at a certain price on or before a certain date. Put options, on the other hand, give the holder the right to sell an underlying asset at a certain price on or before a certain date.

“December 29, 2023 – and you can see here a huge amount of action at the $45,000 level…

One thing I do want to cast your eye on is to put-call ratio – 0.39. So a lot more calls are being bought than puts, which is very bullish.

But look at the amount of price action even there at $45,000, $44,000, $43,000, etc.

I said many times before I would not be surprised if we saw $42,000 by April 2024 at the time of the halving. According to the [chart below], we could be there by Christmas – $45,000+. Again if these options actions’ players are correct…”

At the time this was written, the price of Bitcoin was $30,560.

Turning to Ethereum, the anonymous analyst says that the put-call ratio of the second-largest crypto asset by market size is giving a “extremely bullish” signal.

“You can see a lot of call demand again at $2,500 for ETH, same date December 29, 2023.

But cast your eyes on the put-call ratio – 0.21. That is extremely bullish. Nobody, pretty much nobody, is buying puts on Ethereum. Everybody expects it to go north at $2,000, up to $2,500 on average by Christmas. Some people have bets up there around $6,500 too.

So either way things happen fast, we don’t know when. But the next five months will be fun guaranteed. And the next year after that. So we’re going to have a year and a half of absolute pleasure here.”

At the time this was written, the price of Ethereum was $1,913.