Analyst Predicts Ethereum Set to Surge Over 180% Against Bitcoin – Reveals Price Targets
A prominent cryptocurrency trader is sharing optimistic views on Ethereum (ETH) compared to Bitcoin (BTC).
During a recent analysis session, a crypto expert known as Altcoin Sherpa informed his substantial following on the social media platform X that the Ethereum/Bitcoin (ETH/BTC) pair is showing resilience. According to Sherpa, the ETH/BTC pair is currently in a favorable position for long-term opportunities, especially with the potential approval of Ethereum exchange-traded funds (ETF) by the U.S. Securities and Exchange Commission (SEC).
Sherpa confidently stated, “ETH is poised to reach all-time highs before the year concludes.” Ethereum is currently valued at 0.05457 BTC ($3,142) and would need to surge by approximately 187% to reach its peak of 0.15636 BTC achieved in November 2021.
Shifting focus to Bitcoin, Sherpa noted, “The price is still within a high range between $73,000 and $56,000, but short-term prospects appear bearish.” Sherpa wrapped up his assessment by suggesting that a bullish phase for alternative coins could emerge in about three months.
He added, “Altcoins are still experiencing sell-offs, and the possibility of a significant alt season in the near future seems unlikely. While there could be potential for an ETH ETF rally, a stable Bitcoin market is crucial for this scenario. Although it remains a possibility, I maintain a cautious outlook. It’s probable that we will see a period of consolidation in the coming months, followed by a promising fourth quarter.”
It’s evident that Altcoin Sherpa’s insights provide a nuanced perspective on the current state of Ethereum and Bitcoin within the cryptocurrency market. As the landscape continues to evolve, investors and enthusiasts alike will be closely monitoring these developments to navigate the dynamic world of digital assets.
