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Economist Alex Kruger predicts a Santa Crypto rally, details on new Bitcoin and Ethereum targets

The dealer and economist Alex Kruger predicts a rally for the two biggest Cryptocurrencies after Market capitalization during the Christmas season.
Kruger tells his 104,800 Twitter followers that a rally powered by unhandled dealers could last until the end of the year.

According to the crypto trader and economist, could Bitcoin (BTC) rise above $ 55,000 while Ethereum (ETH) could be a new one All time high reach.

“In my opinion, the chances are good that we will get a point-driven, hated Santa Claus rally towards the end of the year. BTC back to the top $ 50,000, nothing too crazy, ETH at all-time highs.

Hated because so many market participants have sold and it can be very difficult to change prejudices and buybacks. Those who sold will hate it. “

Bitcoin is trading at $ 49,292 at the time of writing. Ethereum is trading at $ 4,064 at the time of writing, down about 17% from its all-time high of $ 4,878.

Kruger says he sees Bitcoin rise above $ 55,000 as an air bubble appears below the mid-$ 50,000 BTC price.

“Think BTC is over $ 50,000 because there is an air bubble there.”
Source: KrugerMacro / Twitter
If the move is up, an air bubble will develop when the price breaks out, but the lows of some subsequent candles do not fall to the level of the breakout candle lows.

During a downward move, an air bubble is created when the price breaks out, but the highs of some subsequent candles do not rise to the level of the high of the breakout candle after the breakout.

Kruger also says the Federal Reserve’s decision to hike rates from 2022 and reduce asset purchases did not end the bullish cycle, but the upward moves will be marked by more corrections than before.

“The Fed has been tightening and the asset purchase program is being phased out, so a good idea not to let bullish expectations get too ambitious.

[The] the Bull market goes on, just not that easy up. “
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Source: Crypto News Deutsch

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