Bitcoin, Ether near levels that could signal trend reversal: Analyst
Bitcoin and Ether are each less than 10% away from price levels that could signal a potential reversal in the crypto market, according to a macro analyst.
Bitcoin and Ether aren’t far from levels that could signal a trend reversal this year, despite a growing consensus across the industry calling for a bear market, according to macro analyst Jordi Visser.
“If we trade above $76,000 and at the same time we see Ethereum above $2,400, I believe that is the beginning of a move that will be sustainable this year because I don’t think we’re going to have a recession,” Visser said on the Anthony Pompliano podcast published on YouTube on Friday.
A move to $76,000 would represent an increase of 6.1% from Bitcoin’s (BTC) price of $71,646 at the time of publication, according to CoinMarketCap data. Ether’s (ETH) move to $2,400 would represent an increase of around 8%.