Bitcoin price at $150,000, Ethereum at $8,000 and an altcoin season: Analyst reveals when

A pro in cryptocurrencies has shared his predictions on when the price of Bitcoin could reach $150,000, while Ether skyrockets to $8,000 and the altcoin season begins with strength. This comes as the crypto market looks to recover, with BTC trying to successfully surpass $112,000.

Timeline of the Bitcoin, Ethereum, and altcoin surge

In a social media post, the analyst stated that the price of Bitcoin will rise to $150,000, Ethereum will reach $8,000, and the altcoin season will occur in the last quarter of this year. During that period, he expects altcoins to surge between 10 and 50 times their value. Consequently, he urged market participants to remain calm and be patient.

In another post, the pro indicated that the price of Bitcoin is likely to bottom out this month. He noted that he expects BTC to form a minimum between $94,000 and $100,000, leading everyone to believe that $124,000 was the peak. When that happens, he predicts that the leading cryptocurrency will experience a significant breakthrough in October and reach between $150,000 and $180,000 by December.

Another analyst also suggested that market participants can expect significant movements in the prices of Bitcoin and Ethereum in the fourth quarter of this year, while an altcoin season could be on the horizon. In his post, he stated that BTC is following the same pattern throughout the bullish market.

Based on this, he commented that impulsive moves occur in the fourth quarter, and this is where historically most of the rallies take place. The analyst pointed out that these rallies are usually preceded by a longer consolidation period in the form of a descending wedge or ascending megaphone. His attached chart showed that the price of Bitcoin could reach up to $180,000 by the end of the year.

The altcoin season could be starting

A market commentator suggested that the altcoin season could be starting, even as Bitcoin and Ethereum find their balance. In his post, he noted that ETH has outperformed BTC in the last two quarters. ETH has risen about 110% in the second and third quarters, while BTC has increased by 34% during this period.

This represents a return of over 300% for Ethereum over the price of Bitcoin. Consequently, it stated that historically, this type of exchange often marks the beginning of the altcoin season. Data from a blockchain analysis center shows that the market is currently closer to the altcoin season than to the Bitcoin season. More altcoins have continued to outperform BTC in the last 90 days. However, 75% of the top 50 coins by market capitalization still need to outperform BTC for it to be officially considered altcoin season.

At the time of writing this article, the price of Bitcoin is trading around $112,000, up in the last 24 hours, according to data from a cryptocurrency tracking platform.

Notice: For informational purposes only. Past performance is not indicative of future results.