As Bitcoin BTC/USD, Ethereum ETH/USD and other major cryptocurrencies traded in the green as of Tuesday evening, four analysts and expert traders shared their thoughts on the two largest cryptocurrencies by market capitalization.
What Happened: Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe told his 565,000 followers on Twitter that Bitcoin could look for continuation towards the $38,000 range, but volatility will probably remain high.
Nice flip of $36K, looking for continuation towards $38K.
— Michaël van de Poppe (@CryptoMichNL) January 25, 2022
Regarding Ethereum, Van De Poppe noted on his YouTube channel that the cryptocurrency has lost some momentum after being rejected at the $3,300 level.
However, he believes Ethereum will rebound towards the $3,000 range and potentially $3,100.
“If we’re going to have a bounce and can’t even get to the potential rejection point of $2,700, the odds are favorable that were going to have a re-test of the lows at $2,100 and potentially even $1,800,” the analyst said.
Cryptocurrency analyst Justin Bennett noted that Bitcoin’s next “big test” will be the $40,000 to $42,000 range after rallying off a short-term bottom.
$BTC rallying off a short-term bottom.
— Justin Bennett (@JustinBennettFX) January 25, 2022
See Also: How To Buy Bitcoin (BTC)
Pseudonymous cryptocurrency analyst Altcoin Sherpa said that Bitcoin could fall again to the $33,000 level if it has hit the bottom and he is looking for some volatility in the short term.
IF this is the bottom area, you will see 33k again IMO. It’s quite rare that this just reverses up. Bottoms take a while to form; I’m really looking for the wicks and some volatility in the short term when the bottom is close.
— Altcoin Sherpa (@AltcoinSherpa) January 25, 2022
Cryptocurrency analyst Benjamin Cowen said on his YouTube channel that he believes Bitcoin’s rise to the $100,000 level could still easily happen later this year or in 2023, noting that its fair value is now approximately $33,000.
He projects Bitcoin’s fair value will be over $50,000 by the end of 2023 and its rise to the $100,000 level would not seem like that “tall of an order” since it has to go up just two times the fair value.
Price Action: Bitcoin is 2.5% during the past 24 hours, trading at $36,040.55 at press time.