Ethereum Price Forecast: Analyst Credible Predicts ETH to Skyrocket to $10,000 to $20,000 This Cycle

  • Ethereum (ETH) is being closely watched by a prominent analyst predicting significant price gains.
  • The analyst, known as Credible, forecasts a potentially historic rise for Ethereum in the ongoing market cycle.
  • Credible suggests that Ethereum could hit or surpass five-figure prices, possibly even matching Bitcoin’s past peaks.

Explore the latest expert insights predicting Ethereum’s monumental rise in the current market cycle and understand the factors at play.

Ethereum’s Potential to Soar: Insights from Credible

The cryptocurrency analyst Credible, well-known for his market predictions, has shared a bold outlook on Ethereum. According to him, Ethereum is poised for a major upward trajectory, potentially reaching a minimum of $10,000 and possibly exceeding $20,000 by the close of this market cycle. Ethereum’s price, which is $3,510 at the time of writing, would see an increase of around 185% to 470% to hit these targets.

Comparing Ethereum to Bitcoin: A Higher Beta Perspective

Credible’s bullish stance on Ethereum is grounded in the belief that Ethereum acts as a higher beta version of Bitcoin. He posits that if Bitcoin can realistically double from its current levels, Ethereum should outperform Bitcoin’s gains. Credible estimates a conservative 3x rise for Ethereum, positioning it comfortably at $10,000.

Short-Term Fluctuations: A Prelude to Major Gains

Despite the optimistic long-term outlook, Credible cautions that Ethereum might experience sideways trading in the short term. He advises investors to be patient, as Ethereum could fluctuate for a few more months before embarking on a substantial upward trend. This period of consolidation is viewed as necessary before the next significant price surge.

Ethereum’s Future Hinges on Bitcoin’s Performance

Credible’s analysis reveals a strong interdependence between Ethereum’s and Bitcoin’s price movements. Based on his chart interpretations, Ethereum’s price will likely bottom out around $2,800 if Bitcoin maintains its support above $63,000. Should Bitcoin’s price dip to its support level of $62,000 – $63,000, Ethereum might find its bottom near $2,130.

Conclusion

In summary, Credible’s analysis offers an intriguing perspective on Ethereum’s potential to achieve record highs. His insights underscore the importance of Bitcoin’s performance as a predictive element for Ethereum’s price movements. Investors are encouraged to stay informed and patient, recognizing that the long-term outlook might require navigation through periods of market volatility and stabilization.

BREAKING NEWS

Tria Raises $12M to Build Global Self-Custody Bank Supporting Ethereum, 1,000+ Tokens and Visa in 150+ Countries

Per reporting from The Block, self-custody bank Tria has...

Tom Lee and Arthur Hayes Stick to Bold Ethereum (ETH) $10,000 End-of-Year Price Prediction Despite Market Dip

COINOTAG reported on October 15, citing Cointelegraph, that BitMine...

Troy Downing Introduces Retirement Investment Choice Act to Allow Bitcoin in 401(k)s

Representative Troy Downing plans to introduce the Retirement Investment...

Binance Co-Founder He Yi: Candlestick Data Error Was Internal — Mark Price Prevents Flash Liquidations

On October 15, COINOTAG reported that Binance co-founder He...

XAUt (Tether Gold) Spent $12.01M to Buy 2,879 Tokens, Netting $5.16M Shorting BTC During LUNA/UST Crash

COINOTAG News on October 15 cited on-chain analyst Ai...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img