- Crypto market dips following the successful ETH ETF launch.
- Many analysts expected this and remain unfazed, either buying more or holding their assets.
- Bitcoin (BTC) price chart prints a massive bull flag signaling $178,000 BTC high soon.
The crypto market experiences another dip, while how major or minor the dip will go and how long it will last remains to be seen, the cause is likely due to the ETH ETF launch. This comes to no surprise to many crypto market analysts who already predicted a market dip following the launch.
The price of Ethereum and Bitcoin are both dropping at the moment. However, the dip in ETH price so far is not as much as the 20% dip that Bitcoin price experiences after the launch of the BTC ETF.
Eventually, after the market corrected, the success of the BTC ETF was incredible and undeniable. Bitcoin (BTC) went up to set a new ATH and analysts expect ETH price to experience a similar roller coaster ride.
Expert analysts like the reputed Doctor Profit, known for his accurate price predictions, have said that the price of ETH will go over $8000 and could even reach a higher high of $10,000 to $14,000 in the coming months.
Indeed, the future looks bright for the price of Ethereum (ETH) and Bitcoin (BTC). In particular, for the price of Bitcoin (BTC), despite the ongoing market dump, analysts are tracking the BTC price chart and see bullish waves loading.
According to this analyst in the above post, the price of BTC is setting up a trajectory to hit a new high of $178,000. The analyst sees that the price of BTC is breaking out from a massive bull flag pattern on the monthly chart.
Responses to the post reflect a similar bullish sentiment. Both Bitcoin (BTC) and Ethereum (ETH) are expected to set new highs in the coming months and long-time traders preach patience whilst urging traders to focus on the big picture.
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