As Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) continued to extend losses heading into the penultimate week of this year, here’s what four analysts are saying about the two largest cryptocurrencies by market capitalization.
What Happened: Justin Bennett, a cryptocurrency analyst and trader who has more than 95,000 followers on Twitter (NYSE:TWTR), retweeted his earlier post that he would like to see Bitcoin fill the Dec. 4 wick.
Reminder. $BTC https://t.co/qA2BPH2xxn— Justin Bennett (@JustinBennettFX) December 17, 2021
He remains bullish on Bitcoin even if it falls below the key psychological level of $40,000. He added that he would be a buyer of the cryptocurrency if it either retests the $40,000 level or reclaims the $53,000 level.
Cryptocurrency analyst Benjamin Cowen told his 491,000 Twitter followers that he feels Bitcoin, which has fallen over $10,000 on December 4 and since turned lower, will “go back in time” at some point in a few weeks and then complete a loop.
My short-term TA on #Bitcoin. Will go back in time at some point in a few weeks and then complete a loop.This has about as much chance at being correct at all the other short-term predictions. pic.twitter.com/pSTj9amaY6
— Benjamin Cowen (@intocryptoverse) December 19, 2021
He also said on his YouTube channel that while Ethereum has been in a consolidation phase for the most part of this year, he feels the cryptocurrency could continue to consolidate up to mid-2022 and touch all-time highs after that.
He added it was highly speculative to count on that, at the moment.
Pentoshi, a closely-followed pseudonymous cryptocurrency trader with over 417,000 Twitter followers, said he believes Bitcoin is attempting to touch a bottom in the $42,000 to $46000 range and he is looking for the cryptocurrency’s lower highs amid the downtrend.
My average entry is around 46.3k on what I've bought back. Have tried to do as much business as possible below 46.4k fwiw and just tried to compound on some partial sells on spikes upI believe we can go to 42-45k yet. But as stated buying back what was sold. Looking for LH $BTC pic.twitter.com/x6SEeLrAKP
— Pentoshi DM'S ARE SCAMS (@Pentosh1) December 19, 2021
Pseudonymous cryptocurrency analyst Credible Crypto told his 283,000 Twitter followers that he believes Bitcoin has touched a local bottom and is poised for a relief rally to the $55,000 level.
There is the sweep of our lows I was looking for. Lows swept, finex bids at 45k hit, now think we are clear for our relief to 55k+. $BTC https://t.co/FUwX2esYK6 pic.twitter.com/ClS0fTzEgc— Credible Crypto (@CredibleCrypto) December 17, 2021
Price Action: Bitcoin is down 2.0% during the past 24 hours, trading at 46,549.52 at press time. Ethereum is down 3.7% during the 24-hour period to $3,832.70.
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