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A popular crypto analyst says Bitcoin and Ethereum can pull off massive rallies before the end of 2021 as traders underestimate the second leg of the bull market.
Justin Bennett tells his 61,600 Twitter followers that he expects Bitcoin to launch a staggering rally, well above the six-figure level, should the leading cryptocurrency shatter its current all-time high of $65,000.
âMost 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 isnât and Bitcoin reclaims $65,000, weâll see a FOMO event like never before. In which case, $200,000+ through EOY (end of year) is very much on the table.â
In other trending Bitcoin News today: Thereâs No Stopping the Bitcoin Train After BTC Breaks This Price Level, Says Top Crypto Analyst!
Closely followed crypto trader Pentoshi says there will be no stopping Bitcoin after BTC breaks a certain price area.
The pseudonymous trader tells his 212,000 followers that the $48,000 level is the last point before Bitcoin becomes unstoppable.
âAbove $48,000, I think thereâs nothing stopping this train. Itâs the last level structurally that can constitute a lower high on the macro.
$45,000-$48,000 is very strong resistance in my opinion due to the time we distributed above it. Likely see $40,600 again before any real [breakout].â
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
Show Notes / Resources:
Smart govts will âstart hoarding and mining bitcoinâ to the extent thatâŠ
https://cointelegraph.com/news/institutions-are-buying-bitcoin-like-it-s-late-2020
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Bitcoin Sentiment Hits Extreme Fear at $53K – A ‘Wild’ Divergence from Reality Sparks BTFD Alert
Bitcoin’s rollercoaster ride continues, and the latest twist in the tale has left the crypto community in a state of “extreme fear” as the price plunges to $53,000. The divergence between market sentiment and fundamental reality is leaving many investors scratching their heads, with some seeing it as a golden opportunity to “buy the dip” (BTFD).
As the cryptocurrency market experiences heightened volatility, emotions among traders have intensified. The Fear and Greed Index, a popular metric that gauges market sentiment, has now hit the extreme fear zone, reflecting the prevailing unease among investors. The question on everyone’s mind: is this fear justified, or is it an overreaction to short-term market fluctuations?
Bitcoin’s price movements are often influenced by a myriad of factors, including macroeconomic trends, regulatory developments, and market sentiment. While the Fear and Greed Index suggests a high level of anxiety in the market, some argue that it may be a misreading of the overall situation. The “wild” divergence from reality, as mentioned in the article, highlights the emotional rollercoaster that often characterizes the cryptocurrency landscape.
For seasoned investors, extreme fear can be an indicator to “buy the dip” and capitalize on undervalued assets. BTFD, a popular acronym in the crypto community, encourages investors to seize opportunities when the market experiences sudden downturns. However, this strategy is not without risks, and caution should be exercised as market conditions can change rapidly.
It’s essential for investors to consider both short-term market sentiment and long-term fundamentals when navigating the crypto landscape. While extreme fear may create buying opportunities, it’s crucial to assess the underlying factors driving market sentiment and determine whether they align with the broader outlook for Bitcoin.
As the crypto community grapples with this latest bout of market turbulence, one thing is certain: Bitcoin’s resilience and ability to bounce back have been demonstrated time and again. Whether the current sentiment proves to be an overreaction or a genuine cause for concern, only time will tell. In the meantime, investors are advised to stay informed, exercise prudence, and make decisions based on a careful analysis of both market sentiment and fundamental realities.
