TL; DR Breakdown
- Ethereum is preparing for a major bull run
- ETH to achieve $25k this year
- ETH could beat Bitcoin
Ethereum may be currently battling a bear attack, but one popular crypto influencer and analyst thinks that it’s just about to mount a big breakout. Ben Armstrong not only expects ETH to hit $25k by end of this year, he’s also confident that the coin will be topping $85k come 2025. That’s a pretty bullish sentiment right there, and he has his reasons.
Ethereum might beat Bitcoin
Speaking in a video to his over 1 million YouTube fan base on his channel called BitBoy Crypto, Ben opined that Ethereum could surpass Bitcoin in terms of price movement this year. He noted that the second largest crypto has already gained by over 200% since the start of the year, and that it has been challenging BTC in that field. Ben isn’t particularly worried about the current bearish strike in the market. He sees it as a preparation period for ETH’s next major bull run that he expects to resume in late July. The crypto may experience a few market corrections, but even these won’t be beyond 20%.
According to the analyst, the bull run will take Ethereum to the highs of $25k by end of 2021. In this case, it means that ETH has to gain by over ten times (approximate x11) of the current price. At the time of this writing, the coin is trading at around $2,235. If this happens, the momentum will put it on course to the projected $85k by 2025.
ETH will be digital oil
The analyst went on to note that there has been a lot happening within the Ethereum ecosystem, with the exponential proliferation of DeFi being the most notable. Ben points that the planned London hard fork (EIP-1559) on the network will solve the gas fee problem and increase the network’s speed and capacity, and with the DeFi buzz expected to resume in summer, Ethereum will look really good in the market.
The Ethereum network is also home to a growing number of various innovative DeFi and NFT projects that will ultimately increase its demand and push up its value, and this could make it dominant in the market. If that happens, Ethereum will not only be akin to digital oil, but it will also fuel the blockchain of the future.