Cryptocurrency trader Justin Bennett believes that Ethereum is on the verge of reaching new record highs. He predicts that Ethereum will soon surpass the $4,000 resistance level and continue its upward momentum. Bennett notes that as Bitcoin has been performing well in December, traders may start moving their profits from BTC to ETH to capitalize on potential gains. He anticipates that once Ethereum clears the $4,000-$4,100 range, it could rally to $4,800 and even reach the mid $5,000 range to set a new all-time high.
As of now, Ethereum is trading at $3,873, and Bennett expects both Bitcoin and Ethereum to outperform other cryptocurrencies in the market for the remainder of December. He suggests that focusing on BTC and ETH in the coming weeks would be the most strategic move, as he anticipates bullish movements from both assets. While altcoins may have their time to shine later on, Bennett believes that Bitcoin and Ethereum will lead the way for now.
Looking specifically at Bitcoin, Bennett predicts a Christmas rally for the cryptocurrency, with the potential for BTC to break through its diagonal resistance and reach new all-time highs. He suggests that pullbacks for Bitcoin may be scarce through the end of the year, especially with speculations about Bitcoin becoming a US reserve asset under Trump. Bennett even envisions Bitcoin hitting $116,000 or $125,000 by the end of December.
At the time of writing, Bitcoin is trading at $106,339. To stay updated on the latest market trends and insights, users can subscribe to receive email alerts or follow the trader on various social media platforms such as X, Facebook, and Telegram. Bennett’s analysis highlights the potential for both Ethereum and Bitcoin to surge in the coming weeks, making them key assets to watch for investors looking to capitalize on the current market conditions. As the crypto market continues to evolve, staying informed and following expert advice can help traders make informed decisions and maximize their investment opportunities.
