Ethereum (ETH) Price May Hit $10k in the Next Bull Cycle
A crypto quant analyst--with a Ph.D in Engineering, projects the Ethereum price to hit $10k in the next bull cycle. In his analysis, odds of the native currency of the “world computer” rallying 10,000 percent is likely since ETH is only one market circle behind BTC, a coin whose price is trading at new 2020 highs.
Ethereum enjoys the first-mover advantage as the first smart contracting platform with support from regulators in the United States. Its success largely demonstrates the value proposition of blockchain beyond cryptocurrencies. Notably, even if BTC is trending at new 2020 highs, ETH has historically outperformed the BTC. For instance, year-to-date, ETH is up 26 percent against BTC. As the most dominant, the network continues to attract projects with ingenious ideas building on the ICO infrastructure and liquidity built starting from 2017 when the hysteria started. For these reasons, analysts view ETH as under-valued with a lot of headroom to expand towards $650 and beyond.
Impact on the ETH Price:
Bullish. In the immediate term, analysts are closely monitoring how smooth the transition will be. Success means will be a fitting foundation for higher highs beyond $500 to new all-time highs in the next few years.
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