Well-known crypto analyst Nicholas Merten says that the top smart contract platform Ethereum (ETH) could gain another 325% before the current bull cycle ends.
In a new strategy session, the host of DataDash tells its 458,000 YouTube subscribers what it thinks it needs Ethereum for in order to finally break the $ 20,000 mark.
“If everything goes perfectly for Ethereum, if we get the opportunity to get ETH off to a proper start, people using roll-ups, be it zero-knowledge roll-ups or optimistic roll-ups, in general, could be” Layer -2 solutions ”, we see an amount of $ 20,000 Ethereum this cycle. I know it sounds crazy, but if you look at the logarithmic chart we’ve seen percentage returns like this before. “
Rollups are solutions that carry out transactions outside of the main Ethereum chain, but instead record transaction data on it. The two types of rollups are zero-knowledge (ZK) rollups and optimistic rollups.
The closely-followed analyst says that if Ethereum maintains solid fundamentals, a rally to $ 20,000 may not be as bullish as it sounds. He notes that such a profit would only be about half of what ETH achieved in the first five months of 2021.
“I think it’s very reasonable that we can see this price level. Somewhere between our neutral and optimistic goal. To be on the safe side, I’d say we have a really solid, steady stream of price action for. have Ethereum in front of us. It is important to understand that there are stages in this cycle when Ethereum surpasses Bitcoinwhat makes these higher goals reasonable. “
Ethereum is currently trading at $ 4,685 at the time of writing, up 7% from last week, while Bitcoin has remained almost entirely sideways over the same period.
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Source: Crypto News Deutsch