When it comes to the approaching crypto halving event, analysts’ opinions are becoming increasingly important. Despite the noticeable decline in the prices of various cryptocurrencies, the remarks given by analysts are being given significant attention.
Forecasts for Ethereum and Bitcoin Development
A prominent cryptocurrency analyst has been sharing his latest price forecasts for Ethereum (ETH) and Bitcoin (BTC) consecutively amidst the ongoing bull market cycle. Known as Credible, this analyst grabbed the spotlight by predicting that Ethereum could potentially surpass $10,000 and realistically reach $20,000 based on the projected gains of Bitcoin.
In a social media update, Credible mentioned:
There is a strong chance that we could see a peak near $20,000. I am confident that BTC has the potential to double from its previous high of $69,000, which could lead to an even bigger surge for most altcoins. For ETH, reaching $15,000-$20,000 would mean a 3-4 times increase from its previous all-time high.
Meanwhile, Ethereum’s market value had declined by over 6%, trading at $3,271, which raised concerns among investors.
XRP Projections Shared by the Analyst
Credible also expressed his beliefs regarding XRP, suggesting that it could break the $10 barrier. Moreover, he compared the current circulating supply of XRP to the potential value of Ethereum, highlighting that reaching $10 for XRP is not far-fetched.
At the time of the statement, XRP was valued at $0.59.
When it came to shorter-term predictions, Credible speculated that Bitcoin might continue to linger around the existing price range for some time.
He stated:
Current bids are working against any downward price movement, much like how demands previously restricted upward trends. Nevertheless, with the rising open interest, we could witness a substantial surge once we break free from this current range.
As of the latest update, Bitcoin’s price had sharply dropped to $65,615, creating concerns within the investor community.
