The recent acceleration of the Bitcoin uptrend resembles the wildest financial Bubble. Yet, for now, we believe recent tops are still intermediate and that Bitcoin and Ethereum will probably extend one leg higher still before a more durable retracement period can be envisaged. Hence, we believe that Bitcoin and Ethereum could reach 45’000 and 1’700 respectively into February, perhaps March. Late Q1 / Q2 could then see a more substantial correction on both (i.e. hard to say by how much, but a 40 to 50% retracement sounds reasonable in this unreasonable world), Jean-Francois Owczarczak, Director, FinGraphs.com.
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