Reading time: ~2 m
The 221,000-follower cryptanalyst Bluntz who predicted Bitcoin’s 2018 crash is now predicting ETH to rise.
The cryptoexpert assures that the ether has completed the correction and is ready for growth. Bluntz’s technical analysis shows that Ethereum has recently reached its semi-annual low and is in 3% of the buying zone. The analyst does not count on this in the near future, however, he does not advise to miss opportunities for earning.
Bluntz provides a chart showing that the ETH/BTC trading pair has reached an important support level of 0.618 Fibonacci. Traders usually see this as a buy signal.
The optimism of traders finds support in the statistical data. The analytics platform Santiment shows that those with lots of cryptocurrencies keep building up their holdings. Over the past year, holders from 10 to 10,000 ETH have increased their assets by 3.61 million coins, which is equivalent to $6.13 billion.
Larger players also continue to purchase ether, adding 9.43 million coins over the same period of time.
Earlier, the growth in the value of the second largest cryptocurrency by capitalization was predicted by Michael Van De Popp.
#Ethereum #completed #correction #ready #growth