As Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) rebounded on Tuesday evening ahead of the Federal Reserve’s monetary policy announcement on Wednesday, here’s what four analysts are saying about the two largest cryptocurrencies by market capitalization.
What Happened: Amsterdam-based popular cryptocurrency analyst Michaël van de Poppe said he believes Bitcoin hit a bottom on Dec. 4 and the bull market is not over. He added that the impact of new measures such as tapering by the Federal Reserve has already been priced in.
I repeat again; the bottom on #Bitcoin was hit on 4 December.
The bull market isn’t over.
— Michaël van de Poppe (@CryptoMichNL) December 14, 2021
Regarding Ethereum, Van de Poppe said the cryptocurrency is “doing just fine” and he feels it is ready for a retest of its previous breakout level before it continues moving.
#Ethereum is doing just fine.
Some key levels to watch, but seems to me that we’re just ready for a retest of previous breakout level, before we continue moving. pic.twitter.com/HytQPWHCy3
— Michaël van de Poppe (@CryptoMichNL) December 14, 2021
Cryptocurrency analyst Benjamin Cowen said that Bitcoin is “stretching its legs,” while he believes 2022 will be another good year for Ethereum.
#Bitcoin stretching its legs
— Benjamin Cowen (@intocryptoverse) December 14, 2021
I think 2022 will be another good year for $ETH
— Benjamin Cowen (@intocryptoverse) December 15, 2021
See Also: How To Buy Bitcoin (BTC)
Pentoshi, a closely-followed pseudonymous cryptocurrency trader with over 415,000 Twitter followers, retweeted his earlier post, noting that he has started buying back Bitcoin after having sold the cryptocurrency last month.
Have started buying back significantly what I’ve offloaded in $BTC the last month. Will bid down to 42k. I think we could have another 10% down but we’ll see what market gives. I am ready
I’ve also been transparent, and given all my thoughts in an extremely…
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