Crypto Industry Veterans Say Bitcoin (BTC) and Ethereum (ETH) Coiling Up for Breakouts

A venture capitalist who correctly called the 2022 crypto bottom thinks both Bitcoin (BTC) and Ethereum (ETH) are “coiling” up for a breakout.

Placeholder partner Chris Burniske tells his 257,800 Twitter followers that BTC and ETH’s weekly charts are making him “too bullish on crypto.”

“BTC & ETH coiling.”

Fellow crypto veteran Raoul Pal, the chief executive of Real Vision, shares Burniske’s bullish sentiment regarding Ethereum.

“Tasty chart of ETH…eventually the 1,850 level will go and it will be fireworks.”

Ethereum is worth $1,868 at time of writing. The second-ranked crypto asset by market cap is up 3.74% in the past day and more than 5.1% in the past week.

Bitcoin is trading for $28,164 at time of writing. The top-ranked crypto asset by market cap is up 0.66% in the past 24 hours and nearly 3% in the past seven days.

Burniske said last month that he remains bullish on blockchain and crypto regardless of the macroeconomic landscape.

“I’m as long crypto as I’ve ever been – blockchains are critical infrastructure that provides solutions to the problems our society faces, including AI. As a species, we eventually find our way, though the walk is full of sticks and stones. If you look up, there are blue skies.”

He also predicted that Bitcoin would exceed $30,000 and Ethereum would surpass $2,000 in April.

 

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