Will Ethereum ever reach $10,000 in price?

 

Will Ethereum ever reach $10,000 in price?

2020 ended with a big surge for cryptocurrency. Recently I answered the question: Why are Ethereum gains lagging so much behind Bitcoin during December of 2020? I explained institutional investors have mainly been buying Bitcoin, but haven’t necessarily started buying ETH yet.

https://www.digistore24.com/redir/339306/galpaherry/
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BTC Dominance is at an important support point, which will hopefully break to enable altcoins (including) ETH to finally take off. In that case, the price increase we’ve seen on ETH recently was just the beginning and ETH could well hit $5k before summer.

If you’re not familiar with BTC.D and the current situation, then I’d highly recommend you to read the answer I just referred to.

Do I believe ETH can hit $10,000 in 2021?

$10,000 is a huge target. At current supply this would mean a >$1.000.000.000.000 (1 trillion) market cap for ETH. Is this an unrealistic target though? I certainly don’t think so.

I do however think we’re not going to see $10,000 in 2021, rather $5,000. The main reason I believe we’re going to see much higher prices is because: first, Bitcoin is nowhere close to completing its upwards momentum. And second, I could well see BTC.D decrease, where ETH gets room to grow versus Bitcoin. Meaning it sees an even larger return in $.

https://www.digistore24.com/redir/339306/galpaherry/
cryptocurrency


x

He’s an amazing analyst who has been very helpful for me throughout these past few months. His current view on ETH shows ETH has the potential to create a huge Head & Shoulders pattern, which could end at 0.086 ETHBTC, a 2x return versus it’s current ETHBTC ratio.

As I’m anticipating BTC to reach $50,000 by July, this would bring ETH to 0.086 * $50,000 = $4,300 per ETH (+285% from current price) versus a return of 45% for BTC.

This is your prediction based on TA, how about FA?

Next to technical analysis, we’re also seeing the launch of ETH2.0. That’s right, the Ethereum Foundation describes this upgrade as ‘Upgrading Ethereum to radical new heights’ on their website: www.galpaherry.com

https://www.digistore24.com/redir/339306/galpaherry/
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This upgrade is very needed to bring Ethereum into the mainstream, ETH2.0 sees te migration from proof-of-work to proof-of-stake to create a more scalable, secure and sustainable network.

This includes the Beacon Chain, Shard Chains and Docking (merge the Ethereum Network with the Beacon Chain). If you’re interested in the details, definitely check out their website: https://www.galpaherry.com/2021/01/whats-your-prediction-for-iota.html


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Proof-of-stake includes staking, which will further reduce the circulating supply, as ETH is locked up on the Beacon Chain to help secure the Ethereum Network. This will further reduce sell pressure, combined with increased buy pressure this too helps further increasing the ETH price.

Conclusion

I strongly believe 2021 is going to be a big year for cryptocurrency and blockchain technology. 2017 was a year of speculation by retail investors. 2021 is the year where many projects have built their tech and are now looking for adoption, scaling and growth. We’re entering a phase of product market fit versus pure speculation.


https://www.digistore24.com/redir/339306/galpaherry/
cryptocurrency


2021 is going to see increased buying from institutional investors, who hopefully will soon look at Ethereum (rather than just BTC) as well. The first institutional investors already have, meaning I think it’s a matter of time rather than ‘if’ ETH is going to see significant growth.

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