Summary
- BTIG said Bitcoin (BTC) has entered an oversold state and could rebound to $100,000 by the end of the year.
- BTIG said Ethereum (ETH) has recently fallen 47% but is maintaining a key support zone and could rebound to $3,400.
- There was an assessment that virtual asset mining-related stocks and MicroStrategy (MSTR) also have potential for further increases and buying opportunities.
On the 28th (local time), according to economic news channel Walter Bloomberg, investment bank BTIG forecast that Bitcoin (BTC), which recently underwent a correction, has entered an oversold state and could rebound to around $100,000 by the end of the year.
BTIG analyzed, "Bitcoin typically forms a bottom around November 26 and then shows strength until the end of the year," and "this correction also matches the seasonal pattern."
Regarding Ethereum (ETH), it has recently fallen 47% but is maintaining a key support zone and could rebound to $3,400.
Cryptocurrency mining-related stocks are also showing strength. The Barclays mining index could rise an additional 15%, and Cipher Mining, Terawulf, etc. are assessed to be maintaining relative strength.
BTIG maintained a $630 price target for MicroStrategy (MSTR), which has recently fallen 63%, calling it "a buying opportunity from a mean-reversion perspective."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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