A few predictions are starting to circulate regarding possible price movements by year-end for some of the most talked-about cryptocurrencies: Bitcoin, Ethereum and Solana.
Bitcoin price predictions
It is possible that the current week will be a key point in terms of whether the bull run will continue.
According to PlanB, the current scenario would be a temporary pause needed to liquidate long leveraged positions, after which the bull run could continue.
Classic
– step 1: liquidate all leveraged longs
– step 2:pic.twitter.com/UwHcpj8CjI
— PlanB (@100trillionUSD) October 27, 2021
CEO of YIELD App, Tim Frost, also says that this week is crucial, particularly in terms of whether the price of BTC will rise above the fateful $100,000 mark by the end of the year, or to a range between $70,000 and $90,000, which is considered a more realistic prospect, with $100,000 likely to come in the first quarter of next year.
While there are also those who argue that the price of Bitcoin could fall between now and the end of the year, they seem to be in the minority and general sentiment still seems quite bullish.
Among those who are bearish there are also some analysts who argue that as soon as another ETF on Bitcoin is approved, there could be a repeat of a crash like the one in December 2017, after the launch of futures contracts at the CME.
The level to watch out for would be the $66,000 level, from which Bitcoin moved away between yesterday and today.
Will Ethereum follow Bitcoin?
A similar argument can be made for Ethereum, although there are those who say that any upward movement of ETH could be greater in percentage terms than that of BTC.
To be fair, since May, ETH’s price movements have been proportionally very similar to those of BTC, while only in the first four full months of the year has ETH significantly outperformed BTC.
For Ethereum, this week could also prove pivotal in terms of a possible continuation of the bull run, and it is possible that it will share Bitcoin’s fate in this respect.
Solana grows thanks to NFTs
Again according to Tim Frost, Solana’s price has been holding above $200 for quite a prolonged period, so much so that there could be doubts as to whether it still has ample room for growth.
Its 41% growth over the past 30 days seems to be driven largely by the NFT craze, but that could end at any moment.
Bitcoin’s impact on other cryptocurrencies
As is often the case, the fate of Bitcoin affects the crypto market as a whole, with Ethereum following a similar trend.
Any major move in the price of BTC is likely to have a significant impact on the price of almost all other cryptocurrencies as well, so it is necessary to keep an eye on their movements this week to really understand whether the 2021 bull run is over, or not.
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