A well-known analyst told what to expect from Bitcoin and Ethereum by the end of the year

Ryan Lee, chief analyst at Bitget Research, shared his forecast for the value of bitcoin and Ethereum in late 2024 and early 2025. According to him, prices will depend on market sentiment and political events, especially the results of the US presidential election.

As for bitcoin (BTC):

1. The overall trend is optimistic, despite possible short-term fluctuations.
2. Positive factors include the accumulation of coins and investor expectations.
3. US economic data, in particular the Consumer Price Index (CPI), may affect market sentiment.
4. The US election results will be crucial. Donald Trump’s victory could boost the growth of the crypto market.
5. Lee predicts that bitcoin could rise to $ 80,000 by the end of 2024.
6. In the first quarter of 2025, the price could range from $ 45,000 to $ 90,000.

As for Ethereum (ETH):

1. Ethereum usually follows the dynamics of Bitcoin.
2. The coin has difficulty growing on its own.
3. Short-term volatility is expected due to support and resistance levels.
4. Changes in the price of BTC or political events can affect the value of ETH.
5. The victory of Trump, who supports Web3, could have a positive impact on Ethereum.
6. Forecast for the end of 2024: fluctuations from $ 2,100 to $ 2,800.
7. In the first quarter of 2025, the price could range from $ 2,000 to $ 3,500.

The analyst also mentioned that Kamala Harris, like Trump, promises to support the development of the crypto industry, which can be beneficial for the market.