Crypto analyst Cheeky Crypto has recently shared a video on YouTube in which he provides insights into the current state of the Bitcoin and Ethereum market. In the past few months, there has been a pullback in the cryptocurrency market with Bitcoin pulling backs. Bitcoin declined to 22.3% in April and stood at 17.62% in March. These corrections have offered good dollar-cost averaging points to the investors.
Cheeky Crypto highlights that Bitcoin is still trading in a sideways channel which may signal a preparation for the next bull run. He is bullish on future gains, especially with the Ethereum ETF approval in the near future and other factors in the market.
In his video, Cheeky Crypto explains his most recent and future actions in the investment aspect, specifically Ethereum and other opportunities. He has been gradually stacking ETH because of its good main and secondary levels.
Ethereum And Polygon Set For Major Gains
The approval of the ETF 19B4 filings has seen the price of Ethereum go up by a great margin. Cheeky Crypto is expecting that the approval of S1 filings will push the price of Ethereum even higher, possibly going up to $4,500 to $5,000 with higher targets at $6,500, $9,000, and even $22,000 in the long run.
Cheeky Crypto also concentrates on Layer 2 solutions for Ethereum, especially Polygon (MATIC). He is particularly thankful for Polygon which helps enhance Ethereum’s scalability and efficiency, stating that the latter will become the most preferred layer 2 solution.
Although Polygon fell by 54% in the middle of March, it has demonstrated a strong recovery. Cheeky Crypto has been accumulating MATIC in this correction and expects it to perform a lot better in the future. He has a price prediction for Polygon for the long term of $77, meaning that there is a possible 10,000% growth.
Arbitrum And Solana, Key Investments For Future Gains
Another layer 2 solution that Cheeky Crypto is watching is Arbitrum. He also considers Arbitrum as a vital scaling solution for Ethereum even if it dropped by 64% from January to April. Cheeky Crypto expects the price of Ethereum to rise soon, and it anticipates that this will(result in high demand for Arbitrum); Cheeky Crypto places the price of Arbitrum at $4 to $6 in the near future with higher possibilities.
Cheeky Crypto explains how and why he invested in Solana for his retirement fund. He thinks Solana has a bright future and this is especially the case now that Ethereum ETF is set to be launched soon. Despite that, Solana has a 44 A 8% fall, however, Cheeky Crypto remains bullish on the future with a target of $245 to $314.
The analyst offered a bullish take on Ethereum’s and its layer2 solutions’ future. Thus, he advises investors to make sure they are up to date and take advantage of market dips to take large positions in these potentially profitable projects.
