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Crypto Bull Run is probably far from over for Bitcoin and Ethereum, analysts say

The cryptocurrency markets are back in record territory. Bitcoin has surpassed $ 66,000 while Ethereum is trading above $ 4,700. Unsurprisingly, the price predictions are back. And with the broader cryptocurrency market cap now heading to $ 3 trillion, the cops are clearly in control.

Review is 20/20

Popular technical analyst Adrian Zduńczyk, known on Twitter as Crypto Birb, has never given up on the bull market. Crypto Birb, who is also behind institutional trading group The Birb Nest, recently reminded its followers that it accurately predicted that Bitcoin would hit a new all-time high, months before it would ever exceed $ 66,000 in October.

By the summer, fear hit the market and investors sold BTC at the $ 30,000 level in anticipation of the bottom line. Crypto Birb’s bullish call was spot on back then, and now it’s eyeing $ 80,000 bitcoin and saying that price level is “imminent.”

In a market update, he uses chart pattern analysis and cites the upper and lower Bollinger Bands and concludes that technical analysis is bullish, although any FUD in the news cycle could push prices down.

$ 80,000 BTC is imminent. Here is my full explanation👉https: //t.co/wekZtn48nH pic.twitter.com/UV7STNwduV

– CRYPTO₿IRB (@crypto_birb) November 7, 2021

Ethereum $ 20,000

Ethereum is already trading at record highs after crossing the $ 4,700 threshold on Sunday. Crypto Birb believes Ethereum has more career for profit and recently set a super bullish price target of $ 20,000 for the second largest cryptocurrency. He assumes that this forecast will prevail in the next few months. If he’s right, Ethereum’s value will increase by around 325% by early 2022.

Ethereum has already rebounded 525% year-to-date as the NFT and DeFi markets exploded. Ethereum is in the middle of a transition to Eth 2.0, which is designed to increase the scalability of the network and result in lower fees, all of which are catalysts for further potential gains. Ethereum faces tough competition from up-and-coming blockchains like Solana, the price of which also recently hit a new record high.

Meanwhile, Gemini co-founder Tyler Winklevoss celebrated Ethereum’s new all-time high and declared, “Eth is money”.

Eth is money, hit an all time high. Phew!

– Tyler Winklevoss (@tyler) November 8, 2021

On-chain analyst Matthew Hyland also predicts that Ethereum’s bull run is far from over. Hyland recently tweeted that “Ethereum has just started,” pointed out a prediction for an “extreme move” to the $ 14,000 level and above, comparing it to the 2017 market.

#Ethereum is just getting started …

The extreme move is coming

$ 14,000 + pic.twitter.com/5XSYoxAJ6F

– Matthew Hyland (@Parabolic_Matt) November 1, 2021

After the weekend’s rally, Ethereum is halfway to joining the $ 1 trillion market cap club.

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