2 Analysts: Bitcoin, ETH and Altcoin Winter Will End On This Date!

Analyst Ben Armstrong, founder of Bitboy Crypto, made assumptions about the market at the Blockchain Summit in Dubai. Armstrong revealed his price claims for Bitcoin and Ethereum. He also talked about crypto regulation, the macroeconomic outlook, and the altcoins he’s interested in. Apart from that, another cryptocurrency analyst also shared his intentions. Here are the details…

Armstrong expects these local bottoms and peaks in Bitcoin

Ben Armstrong drew attention to the importance of the recent range in Bitcoin price. It has moved in a range of $19,000 to $20,000 over the past period, and Armstrong pointed out that the largest cryptocurrency has never been in a reasonable range for so long. Well, when will it come out of this range? The analyst expects BTC to drop first. It draws attention to the levels of 14,000 dollars.

But then, he expects BTC to rise. Because, according to Armstrong, there are many people waiting for BTC to fall to these levels. Therefore, the coin may bounce from this level due to purchases. On the upside, it draws attention to a range of $32,000 to $50,000. Armstrong also points to a different timeline for Bitcoin’s bottom line. According to Armstrong, once every four years, within 2-3 weeks after the presidential elections in the USA, the value of BTC finds the bottom of the cycle.

“Ethereum is superior to Bitcoin”

The analyst, who thinks that BTC will stabilize in December after the base level expectation in November ($ 14,000), attributes this to the statements about the FED interest rate hike. As it is known, the Fed will make interest rate statements at the beginning of November and mid-December. FED’s upcoming calendar Koindeks.com You can see it in this article we prepared. The analyst also says that he thinks Ethereum (ETH) is superior to Bitcoin. The analyst believes that in the next bull cycle, ETH will overtake Bitcoin by market cap.

CoinPayments CEO: Crypto winter won’t last forever

On the other hand, Sean Mackay, CEO of CoinPayments, shared his expectations for the cryptocurrency winter. According to Mackay, currently, macro conditions are affecting many cryptocurrencies. The correlation between cryptocurrencies and tech shares doesn’t help either. However, Mackay conveyed his positive sentiment towards Bitcoin’s long-term halving in 2024. According to Mackay, the market can recover with the halving in BTC.

Finally, Mackay talked about the acceptance of cryptocurrencies as a means of payment. According to Mackay, although countries such as El Salvador and the Central African Republic accept Bitcoin as a legal tender, there are many hurdles that must be overcome before Bitcoin becomes a widely adopted tool. In particular, Bitcoin’s Blockchain technology is still too slow and costly to process processes efficiently.

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