A popular crypto analyst is unveiling his Ethereum (ETH) and Bitcoin (BTC) peak price predictions for the current bull market cycle.
The pseudonymous analyst known as Credible tells his 384,800 followers on the social media platform X that Ethereum will surge past $10,000 at “minimum,” but notes that ETH can realistically rally to as high as $20,000.
He bases the prediction on the gains he thinks Bitcoin will see.
“I think there’s a chance we can come up on a peak/blow-off top near $20,000.
It’s pretty simple – I think BTC can realistically 2x from our last high at $69,000 – which means most alts will do multiples of that.
For ETH, a 3-4x of prior all-time high puts us at $15,000-$20,000.”
Ethereum is trading at $3,484 at time of writing and is down more than 3% in the past 24 hours.
Credible also thinks that XRP could skyrocket past $10, noting that the payments altcoin surpassed Ethereum’s market cap in a previous cycle.
“Reality is at current circulating supply, a $10,000 ETH is equivalent to a $20+ XRP. So if you think $10 is impossible for XRP but $10,000 ETH is realistic for ETH, you need to check your bias real quick.”
XRP is trading at $0.614 at time of writing.
In terms of shorter-term predictions, the analyst thinks Bitcoin will continue to trade sideways for a few more days.
“Bids now capping price on the downside (or attempting to) the same way asks were capping upside earlier. [Open interest] is building up though so we should get some nice volatility once we break out of this range.”
At time of writing, Bitcoin is trading for $68,508.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Generated Image: Midjourney
Read the full article here