Cryptocurrency analyst expects large-scale growth of the crypto market

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A popular cryptocurrency analyst under the pseudonym Bluntz believes that the current behavior of ETH and BTC rates indicates the imminent large-scale growth of the cryptocurrency market.

Blutz bases his opinion on the confident rebound of the ether chart from the 0.618 Fibonacci level. The situation is similar with Bitcoin, where there is a “constructive market reaction”:

“Great bounce from 0.618 for ETH, it looks like the rate will go to $1,400 or even higher. I can definitely say that volatility is decreasing - several days of consolidation are needed for a powerful rebound from this level. The Bitcoin chart looks like an increasingly powerful accumulation of coins every day. I don’t know yet if $19,000 is a long-term or medium-term market bottom, but BTC will soar to at least $24,000,” the analyst wrote on Twitter.

Glassnode previously stated that it is nowThe cryptocurrency market has practically gotten rid of margin traders and “tourists”. Only the “hodlers” remained. A team of analysts at JPMorgan bank shares a similar opinion, however, they believe that the crypto market may still decline in the short term.