Bitcoin could reach $200,000 by the end of 2021 if only...
Bitcoin could reach $200,000 by the end of 2021 if only... Bitcoin could reach $200,000 by the end of 2021 if only...

Popular cryptocurrency analyst Justin Bennett believes that bitcoin’s price could reach $200,000 by the end of the year if it…

…manages to stay above two key levels in the near future.

In a thread posted on Twitter, Bennett wrote that most market participants “underestimate the FOMO level that will occur above $65,000″ on the cryptocurrency’s chart. He suggested that if bitcoin exceeds its current ATH, new investors will join the game.

According to his words, if BTC reaches $65,000 and a new wave of FOMO begins, reaching $200,000 per digital coin by the end of the year is by no means impossible.

Bennett added that he is an “eternal optimist” and there are no guarantees when it comes to his forecast. Before reaching $65,000, the BTC price will have to (according to him) stay above another key level, which is $47,000.

In a separate tweet, the analyst noted that if bitcoin manages to break above the $47,000 level and turn it into a support zone, the cryptocurrency could be on its way to the $100,000 level.

What about ethereum?

The analyst also took on druthe largest cryptocurrency in terms of market capitalization. He noted that ethereum is forming a pro-growth pattern in the form of a rising channel.

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According to Bennett, ethereum could rise to $18,000 in the future, which would mark a significant increase from the cryptocurrency’s current price, which remains above the $3,000 level. It is worth noting that the price prediction is similar to that of former Goldman Sachs director Raoul Pal, who said that ethereum could reach $20,000 in this cycle.

Bennett also noted that the Ethereum market situation has been “every trader’s dream” since July, as there has been “no shortage of opportunities” since holding its support at $1,700 . It’s worth noting that Pal called Ethereum the “biggest trading setup” he’s ever seen, as the cryptocurrency’s fundamentals suggest it has tremendous upside potential.

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From the Editor

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