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

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  • Yuri Molchan
    📰 News

    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

Bitcoin Price Surging to $120K in 2022 Could Make ETH Price Spike to $10K, Crypto Trader Says
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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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.

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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.

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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.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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