Is Ethereum (ETH) poised to reach $10? An esteemed analyst has made a bold prediction about the future price of the second largest cryptocurrency in the market. Known as Credible, this cryptocurrency expert and trader foresees an explosive surge in the value of Ethereum, potentially reaching a three-digit increase from its current price.
Credible shared his optimistic forecast on June 14 through his official X account, projecting that ETH could skyrocket to a five-digit price level in the current cycle, with a minimum estimate of $10k by the cycle’s end.
“$ETH to minimum 10k by end of cycle. Realistically, significantly higher than that. I like 20k because it matches the 2017 top of $BTC and is a good round number to target after 10k is breached,” he stated.
Additionally, Credible elaborated on his prediction, stating, “Just to put it simply, ETH is a higher beta version of BTC, if I think BTC can realistically 2x from here, then ETH should at the very least do more than that. Even just 3x would put us at 10k.”
At the time of this writing, the price of Ethereum was at US$3,533.90, showing a 0.5% increase in the last 24 hours.
Recent movements in the Ethereum market have caught the attention of analysts and traders alike. A significant amount of Ethereum (ETH) has been withdrawn from centralized exchanges, particularly Coinbase, the largest cryptocurrency platform in the United States. This development has sparked speculation regarding the reasons behind this trend and its potential impact on the market.
Over the past two days, approximately 336,000 ETH has been withdrawn from Coinbase wallets, marking the platform’s highest withdrawal volume this year. Renowned analyst Ash Crypto shared this information on X, emphasizing the significance of this event.
Disclaimer: The opinions expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.
Ethereum continues to attract attention as whales take advantage of the market dip, with $840 million worth of ETH purchased recently, indicating a bullish outlook for the cryptocurrency.