At the time of writing, the crypto market has experienced another dip as Bitcoin fell to $54k once again. The question some are now asking is ‘should we be worried about Bitcoin’s struggle to break $60k’?
Bullish people will simply point towards the fact that the crypto market has seen a lot of momentum in recent months and dips should only signify a great opportunity to buy. This might be true for now at least, although the fact that Ethereum continues to be stuck in its current price range is starting to concern a few.
Ethereum Falls To $1650
Ethereum has fallen to $1650 again as its price continues to fight resistance. After such a rise in the months before and just after Christmas the momentum of Ethereum has left many frustrated. Should this be the case though? Well if you buy into the theory that ETH is destined to rise to $10k during this bull run then this accumulation period represents an unbelievable opportunity.
The amount of accumulation at this level and key support at the $1500k level should make many believe that when ETH takes off again it could really be something to behold. On the other hand, there is a fear that the coin’s unexciting price action and criticism over gas fees will send people to look at alternative coins.
Popular Youtube crypto content makers Bitboy and Chico Crypto still hold the belief though that ETH will outperform Bitcoin in this current cycle. Bitboy is extremely bullish on the currency and sees $10k as the bare minimum. Earlier in the year, he made the mouth-watering prediction of $27,000 although he has recently watered down this prediction but not by much. He still believes any price about $17k would not shock him in the slightest.
Verdict: Buy And Hold Your Ethereum
Here, we are still very bullish on Ethereum and believe that in the not too distant future we will see an explosion that will make this lull all worth it. We fully back the $10k prediction and we suggest that you keep on buying the dip because one day soon it will be too late!