Bitcoin Price Surging to $120K in 2022 Could Make ETH Price Spike to $10K, Crypto Trader Says

News
Fri, 11/29/2019 - 09:40
Yuri Molchan
Comparing the first cycle of Bitcoin with that of Ethereum, a crypto trader and analyst reckons that if BTC surges to $120,000, Ether may hit $10,000
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While Bitcoin for now seems to be fixed in the $7,500 area, the crypto community is taking their best guesses: which way it will head further – up or down.

Upbit hack: Bitcoin and Ether

Both Bitcoin and Ethereum have been mentioned a lot recently in the news about the South Korean Upbit exchange. Earlier this week, it was hacked and around $50 mln in Ethereum was stolen – 342,000 ETH.

The event first made the Bitcoin price drop to the $6,800 zone but later on, it rushed upwards, recovering to $7,300 and adding around $500.

Many analysts are saying that Bitcoin is in an uptrend now but it needs time to surge to over the ATM of 2017. The forecast below, however, talks about a chance for not only $120,000 per Bitcoin in the future but also says the Ethereum price may spike well beyond its ATM of 2017.

Forecast: $120,000 for Bitcoin, $5,000-$10,000 for Ethereum

On Thursday, U.Today wrote about the forecast of the @IamCryptoWolf trader, who said – Bitcoin may hit $120,000 in its second cycle in 2022. Now the crypto trader and analyst compares the first cycle of Bitcoin with the first cycle of Ethereum and points out to a large similarity between them.

This makes him assume that should Bitcoin hit $120,000 in 2022, Ethereum price is likely to grow to $5,500.

In the comment thread, though, he adds that $5,000 is a pessimistic forecast and doubles it.

Related
Bitcoin Instead of Apartments: Director of Failed Property Developer Bought Crypto with Customers' Deposits

Will Bitcoin drop to $6,200?

Another crypto analyst, @nebraskangooner, believes that right now, due to the fractal on the chart, the Bitcoin price is likely to either keep rising and hit $7,900 or drop to $6,200.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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