Crypto Analyst: $1,800 Bitcoin, $50 Ethereum ‘Wouldn’t Surprise Me’
Most recently, a well-known crypto trader with the moniker, “The Crypto Dog,” claims that he/she wouldn’t be surprised if cryptocurrencies fall another ~50% from current levels.
In a tweet that got the crypto community buzzing, Crypto Dog noted that a $1,800 BTC and $50 Ethereum isn’t out of the realm of possibility.
Backing this call, the analyst went on to cite one of his quips from late-December, in which he stated that as the cryptocurrency ecosystem is presumably nearing the end of its downturn, it may range trade between an absolute low and high of $1,800 and $6,200 respectively for a “Substantial period of time.”
In his December tweet storm, the trader even remarked that the halvening slated to occur in May 2020, along with the arrival of Bakkt, Fidelity, the potential VanEck & SolidX Bitcoin ETF, along with other institutional products will be drivers for “Further bullish momentum” in the years to come.
Crypto Dog isn’t the only trader to be enamored with the halvening & Wall Street narrative.
On the block reward side of the equation, “200M trader,” a trader that turned $200 million in profits trading Ethereum in 2017, told CCN that the issuance reduction, which should decrease daily selling pressure from Bitcoin miners, should catalyze some semblance of market growth.
Nick Chong’s original article for ethereumworldnews.com reduced by 71%
Related story: Leaked Documents Suggest Mt. Gox Trustee’s Bitcoin Sales Impacted Market Prices
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