Cryptocurrency analysts are speculating that Ethereum may be on the verge of a significant price increase in the near future. Despite lagging behind Bitcoin in terms of price appreciation and lacking clear catalysts, recent market trends indicate a potential resurgence for the altcoin. Flow, a cryptocurrency analyst, has observed a shift in sentiment for Ethereum, suggesting that now may be its time to shine.
According to the analysis, Ethereum has outperformed Bitcoin by approximately nine percentage points since hitting a three-month low. This trend has been largely driven by a change in the SEC’s stance on the ETH spot ETF, indicating that Ethereum is far from dead and could surprise the market. Additionally, the ETH/BTC chart shows that Ethereum has recovered from a multi-year low, potentially capturing significant market attention if this momentum continues.
At the time of publication, the Ethereum price was quoted at US$3,385.24 with a 1.6% increase in the last 24 hours. A recent optimistic report projected that Ethereum could skyrocket up to an impressive 4,225%. VanEck’s head of digital asset research, Matthew Sigel, shared this prediction, adding to the speculation surrounding Ethereum’s potential price increase.
Please note that the views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.
