Bitcoin At $100K While Ethereum 'Chills' Between $3K-$5K? Not Possible But 'Quite Likely,' Says Trader

Prominent crypto analyst CrediBULL shared a bullish outlook for Bitcoin BTC/USD while projecting more short-term sideways price action for Ethereum ETH/USD.

What Happened: CrediBULL expressed strong confidence that Bitcoin is gearing up for a significant upward move, suggesting that it could surpass $100,000. He noted that despite ETH/BTC showing a potential 20-30% downside, he believes this does not necessarily translate to a similar percentage drop in ETH/USD.

"Realistically, I think the downside on ETH/USD is extremely limited from current levels (10% or so max)," he added highlighting a positive outlook for Ethereum’s price stability. He pointed out that Ethereum had likely already reached its bottom around $2800, assuming Bitcoin doesn’t experience a major drawdown.

The trader noted that while Ethereum has not yet reached its previous all-time high, Bitcoin is preparing for a substantial impulsive move of $20,000-30,000. He suggested that during this period, attention and liquidity would flow more towards Bitcoin, causing Ethereum to lag and consolidate around its prior all-time high.

Also Read: ‘I’m Prepared To Lose Everything Over Bitcoin,’ Says Trader Who Bought The Top In ’21, The Bottom In ’22 And Is ‘Still Buying Now’

Why It Matters: Credibull emphasized the importance of being patient with Ethereum investments, stating, "If you're patient, Ethereum will have its turn," while advising investors to be prepared for some volatility and consolidation.

Ethereum investors need to be patient, as it might “chop around” for a few more months before it is ready for its next significant upward movement.

CrediBULL's analysis implies that crypto investors should focus on the long game and be prepared for an ebb and flow of market attention and liquidity between BTC and ETH.

What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.

Read Next: GameStop Could Start ‘Biggest Bitcoin Adoption Story Of The Year’ With This Move, Trader Suggests

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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