Bitcoin has finally risen above $ 50,000 for months – and Ethereum is also well positioned for price gains. A popular analyst gives reasons.
Ethereum about to explode
For the pseudonymous crypto trader “ShardiB2” there is no doubt: Ethereum, in his opinion, is on the verge of a “damn explosion”. He also shows a chart with ETH’s rise to $ 3,331 – an increase of 2.3% within the last 24 hours.
– Don’t follow ShardETH B if you hate money (@ ShardiB2) August 23, 2021
ShardiB2 is not alone in its assessment. Many analysts and traders expect massive profits from Ethereum. A rise to five-digit prices seems as certain to many as Bitcoin’s move towards $ 100k.
The popular crypto expert Lark Davis, for example, anticipates that Ethereum will “easily” rise to five-digit prices – and also gives the reasons for this. The New Zealander assumes that the increasing demand for Ethereum (e.g. due to the DeFi and NFT boom) in combination with the falling supply will catapult the price upwards. The offer from ETH is falling more than before, among other things, because an update (EIP-1559) was recently activated, which burns up transaction fees.
Analyst explains “rocket fuel”
Davis now comments:
“Ethereum will easily reach 5 digits in the long run, increasing demand, decreasing supply and a constant buy-and-burn mechanism are rocket fuel!”
#ethereum long term will easily hit 5 digits, rising demand, falling supply, and a perpetual buy and burn mechanism are rocket fuel!
– Lark Davis (@TheCryptoLark) August 18, 2021
Many industry observers comment similarly bullish with Ethereum. One of the most popular traders in the industry, Michaël van de Poppe (@CryptoMichNL on Twitter), is currently predicting five-digit prices for Ethereum again. In an updated forecast, the Dutchman states his price targets for top coins such as Bitcoin, Ethereum or Polkadot. His ETH forecast: Ethereum will rise to prices between $ 10,000 and $ 17,500 this cycle.
We’re on the way with #Cardano.
Peak high bull cycle prediction:#Bitcoin to $ 350,000-450,000#Ethereum to $ 10,000-17,500#Polkadot to $ 250-350#Chainlink to $ 250-350#Cardano to $ 10-20#Zilliqa to $ 5-7#Elrond to $ 500-1,000#SLIDE to $ 50-75
– Michaël van de Poppe (@CryptoMichNL) August 20, 2021
Institutional interest continues to grow
Crypto analyst Scott Melker (“The Wolf Of All Streets”) also comments on Ethereum’s potential in a new interview. In his opinion, Ethereum will not overtake Bitcoin. But there are very good reasons to be “very, very optimistic” about both assets.
Melker also explains why:
“Ethereum had a higher trading volume than Bitcoin in the second quarter. […] I don’t think Ethereum will overtake Bitcoin anytime soon in terms of market cap, but institutional interest is growing tremendously. The volume of trading and actual use of the network are enormous. So I think there are good reasons to be very, very optimistic about these two assets. “
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