Bitcoin is trading around $38,000, while the RSI has approached the oversold zone. The altcoin market has also been quite sluggish in the last few days and has not dropped sharply since last week, aside from moderate fluctuations. In this article, let’s take a look at Bitcoin, Ethereum and Algorand predictions from popular Twitter and Youtube analysts.
BTC, ETH and Algorand (ALGO) analysis
In his latest Youtube video, Benjamin Cowen shared his predictions for when Ethereum (ETH) could return to the ATH level of $4,865. The analyst reminded that Ethereum has been trading in a wide range between $2,000 and $4,000 since the beginning of 2021. Cowen argues that its current consolidation is not unusual:
You should also keep in mind that these fluctuations are incredibly normal for an asset class that can yield 40x returns in about a year. If 40x a year is possible and we need to consolidate for a while, often these consolidation phases can take.
Cowen, whose analysis we share as Cryptokoin.com, refers to the great rally of Ethereum from March 2020 to May 2021, when Ethereum went from about $ 100 to over $ 4,000. The analyst also says that Ethereum’s current price action is similar to the market structure in 2016, when the second-largest cryptocurrency also consolidated for almost a year before sparking a parabolic surge. Using Ethereum’s 2016 market structure as a roadmap for the period ahead, Cowen envisions a rally to ETH’s all-time high before the first half of 2022 ends.
Przybysz shared his estimate of 100 thousand dollars
The next analyst, Forrest Przybysz, thinks Bitcoin will reach $102,000 in this bull market this year. As the critical levels, between 30 and ATH $ 69 thousand, the following levels are determined:
The average retracement line is around $50 and the demand tier is between $30 and $25,000. We will not see Bitcoin at $25,000. We didn’t even go below $31,000.
The crypto analyst browsing Ethereum discusses the status of ETH 2.0 to see the next levels of the project:
When you look at this chart (above), you will see the accumulation zone ($1,881) that we are currently well above. The average return is about $3,760. And overexpansion is about $7,500. We spent the whole of 2021 talking about ETH 2.0, that’s a thing of the past. Many people think that the consensus mechanism will not be ready until 2023. As we’ve seen, the money outflows, lack of confidence and flow of money into other assets reflect this as we move forward.
Przybysz also closely follows Algorand (ALGO)
Last on the list is the open-source Blockchain network Algorand (ALGO). Regarding the well-known financial media outlet The Motley Fool’s claim that Algorand will be the Solana (SOL) of 2022, the analyst remains skeptical:
When we look at Algorand’s last 12-month chart, it is moving horizontally. It’s basically where it was a year ago. This is never a good sign to lose a whole year.
Regarding altcoin projects like ALGO, Przybysz concludes:
Yes, some may double, but we want more than double this year, that’s what we’re looking for. We start with the trio. Considering the pullback we have, it should be pretty easy to find a bunch of trios.
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