Chinese analyst CryptoPanda shared his long-term perspective for Bitcoin and Ethereum on Twitter and announced his predictions for the next few years.
Chinese Analyst CryptoPanda Shares Its Expectations for 2023 and 2024 with Followers
In his tweet, CryptoPanda first addressed his expectations for 2023, suggesting that crypto markets will experience a strong pump as they price a pause in interest rate hikes and potential rate cuts.
However, he believes a selloff will follow in the third and fourth quarters as the markets adjust to the impending recession. According to CryptoPanda, the real rate cut will occur in 2024.
CryptoPanda claims that by 2024, Bitcoin will reach $100,000, while Ethereum will climb to $10,000.
Haven't tweeted in English for a while, but here is my long-term outlook:
We pump hard to price in rate hike pause&potential rate cuts, then sell off Q3-Q4 to price in recession. The real cut comes in during 2024
1. Bitcoin to $100k
2. Ether to $10k
— Crypto熊猫 (@NoodleofBinance) April 15, 2023
Bitcoin price is at $ 30,283 at the time of writing, while Ethereum is trading at $ 2,087.
Emphasizing that markets tend to do something before the actual event, he points to the fact that crypto has bottomed out in November 2022 in response to a peak in inflation and the ensuing slowdown.
CryptoPanda also argues that the markets are pumping right now and will continue to do so as they anticipate a pause in interest rate hikes. The analyst emphasizes that what causes a pump in the market is an event expectation rather than the event itself.
*Not investment advice.