According to a trader’s analysis of past bull market trends, if Bitcoin makes a highly anticipated move towards the highly anticipated $150,000, the ether could rise to over $8,600.
“In major bull runs, ETH usually reaches 30-35% of Bitcoin (market capitalization),” Crypto Trader Yashasedu said in the X-Post on Tuesday, saying that in the 2021 Bull Run, Ether (ETH) will reach 36% of Bitcoin’s then-market capitalization.
Analysts predict that Bitcoin will exceed $150,000
Yashasedu said that if Bitcoin (BTC) reaches $150,000, it could jump to $8,656, assuming that ETH will reach 35% of Bitcoin’s market capitalization according to the previous cycle if it reaches about 25% from the current $119,335.
They added that when Bitcoin reaches $150,000, if ETH reaches 21.70% to 30% of Bitcoin’s market capitalization, its price can trade between $5,376 and $7,420, even in the lower range.
Yashasedu said the etheric pattern, which reaches 30% to 35% of Bitcoin’s market capitalization, will be repeated again.
“We still see similar setups,” they said. The total value of Ethereum is locked (TVL) said it has recently exceeded $90 billion, with increasing demand for Exchange Sales Funds (ETFs) for Ether.
Several crypto companies and analysts expect Bitcoin to exceed $150,000 by the end of the year. FundStrat co-founder Tom Lee, Bitmex co-founder Arthur Hayes, and Unchained Market Research director Joe Burnett all forecast to reach up to $250,000 by the end of 2025.
ETH institutional and ETF demands increase the likelihood
On Tuesday, Blockchain Technology Firm Bitmine Immersion Technologies said it would raise up to $20 billion for its ETH purchase. A day ago, Spot Ether ETFS recorded its largest net inflow date to date.
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According to data from CoinMarketCap, ether is currently trading at $4,630 at $4,630, about 5.35% below $4,630, and there is a high prediction that it will soon recover its record high.
Yashasedu doesn’t expect a “cool-off” price for Ether until it recovers its record high. Michaël Vande Poppe, founder of MN Trading Capital, foresees a similar situation.
“We’ll probably see ETH’s new ass and then see some integrations,” Van de Poppe said Tuesday.
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This article does not include investment advice or recommendations. All investment and trading movements include risk and readers must do their own research when making decisions.
