Is Ethereum (ETH) on track to reach $10? A well-known analyst has made a bold prediction about the future price of the second largest cryptocurrency in the market. Credible, a respected cryptocurrency analyst and trader, has forecasted that the price of Ethereum could skyrocket, potentially reaching a three-digit increase from its current value.
On June 14, the market analysis expert shared his prediction on his official X account, suggesting that ETH has the potential to reach a five-digit price by the end of the current cycle, with a minimum estimate of $10k. “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 wrote.
In addition to this, the analyst explained his reasoning behind the forecast, stating that “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 writing, the price of Ethereum was quoted at US$3,533.90, showing a 0.5% increase in the last 24 hours. Recent reports have indicated a significant movement of Ethereum out of centralized exchanges, particularly Coinbase, the largest cryptocurrency trading platform in the United States. This development has sparked speculation about the reasons behind this movement and its potential impact on the market.
Over the past two days, approximately 336,000 ETH have been withdrawn from Coinbase wallets, marking the platform’s highest withdrawal volume this year. This information was shared by Ash Crypto, a respected analyst, who emphasized the significance of this event on X.
It is important to note that the views expressed in this article are for informational purposes only and do not constitute financial advice. Investing in cryptocurrencies carries a risk of financial loss.