As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous market cycles and trends. However, the current bull run in cryptocurrencies, particularly Ether (ETH), is unlike anything I’ve seen before. The potential for Ether to surge above $5,000 and even reach new all-time highs is not just a possibility, but a strong probability based on technical chart patterns and fundamental factors.
According to some chart analyses, there’s a possibility that Ether might surge past $5,000, as experts believe its positive trend could continue for another year up until 2025.
The cost of Ether (ETH) might soar past its previous record high of $5,000, due to its link with Bitcoin (BTC) price, which hit a historic milestone of $100,000 on December 5th.
As a crypto investor, I’ve been closely watching Ether’s recent surge to a new record high of $5,000. According to the fractal patterns analysis by renowned crypto expert Titan of Crypto in his latest X post, this rally could just be hitting its minimum target.
In the realm of cryptocurrency trading, technical analysts employ fractal patterns in prices to pinpoint crucial levels of support and resistance, as well as potential shifts in trends, by referring to past market information.
Yet, Ether’s current price is about 18% lower than its previous record peak of $4,800, a substantial barrier for Ethereum, the second largest digital currency globally.
As a crypto investor, I find it fascinating to note that the market value of Ether currently stands at approximately $479 billion, which is a substantial $121 billion greater than the valuation of Bank of America, sitting at around $358 billion. According to Companiesmarketcap data, this underscores the growing significance and potential of the crypto realm compared to traditional financial institutions.
An increase in investments flowing into U.S. Ether Exchange-Traded Funds (ETFs) might boost the expected growth of Ether’s market price.
BlackRock ETH ETF acquires $500 million of Ether
BlackRock’s latest ETF acquisitions may support Ether’s price rally to its old all-time high.
During the last week, BlackRock’s ETF acquired approximately $500 million in Ether, effectively doubling their ETH holdings over the past month, as reported by Arkham Intelligence in a recent blog post dated December 6th.
Over the past week, I’ve observed an impressive surge in the accumulation of Ethereum within our Ether ETFs, totalling approximately $698 million. This inflow marks the largest weekly intake since their launch, as evidenced by data from Dune Analytics.
Approximately three quarters of recent Bitcoin investments have come from U.S.-based spot Bitcoin Exchange Traded Funds (ETFs), contributing to the cryptocurrency’s surge above $50,000 by February 15th.
Ether Golden Cross signals more upside momentum
According to crypto analyst Venture Founder in a recent blog post dated December 6th, the formation of a golden cross on the Ether chart may further fuel its price surge.
“Last time this happened, #Ethereum was still in the consolidation stages of the bear market but it still went +129%. In the 2021 bull market, the last golden cross took ETH +2,323%.”
As a crypto investor, I’m getting more optimistic about the future value of Ether. Various analysts foresee an upward surge, or ‘impulse breakout,’ potentially reaching $15,000 by the year 2025.
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2024-12-07 14:58