Investor Who Called Crypto Bottom Says New Round of Fireworks Could Start This Year – Here Are His Targets
An investor who accurately called the current bottom of the ongoing crypto bear market thinks Bitcoin (BTC) and Ethereum (ETH) are primed to take off next month.
Chris Burniske, a partner at venture capital firm Placeholder, tells his 255,200 Twitter followers that his intuition is that Bitcoin will go above $30,000 and Ethereum will go above $2,000 in April.
Burniske thinks their price movement is dependent on macroeconomic forces, however.
“For much of February, the dollar and rates went higher, while crypto hung in there. If the former two start to drift lower, BTC could push through $25,000, and if ETH/BTC pushes alongside that, we could get another round of fireworks.”
The Placeholder partner also says he thinks traders who are predicting BTC to go lower than its 2022 fourth-quarter lows “are delusional.”
Bitcoin is trading at $22,525 at time of writing. The top-ranked crypto asset by market cap is up 0.48% in the past 24 hours but down nearly 4% in the past seven days. BTC remains up by more than 35% since the start of 2023.
Ethereum is trading at $1,577 at time of writing. The second-ranked crypto asset by market cap is up nearly 1% in the past day but down nearly 3.5% in the past week. ETH remains up by more than 31% since the start of the year.
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Author: Daily Hodl Staff
