Ethereum Surges: Analyst Sees $20K Price Tag in Next Few Years
Ethereum's price could surge to $20,000 in the next few years if Bitcoin experiences another rally, according to Credible Crypto. The analyst bases his thesis on Ethereum's five-year trading range of around $1,500 to $5,000 and its weak relative performance compared to Bitcoin.
Credible Crypto notes that while Bitcoin is trading above its 2021 high, Ethereum has lagged behind, resulting in a low ETH/BTC ratio. This could allow Ethereum to catch up with Bitcoin's price growth.
The analyst predicts that Ethereum will first reach $10,000, followed by $12,000 if Bitcoin reaches $80,000 and the ETH/BTC ratio recovers. If Bitcoin reaches $100,000, Ethereum could hit above $15,000. However, in a more optimistic scenario with Bitcoin at $126,000, Ethereum's price could surpass $20,000.
The analyst believes that Ethereum's higher risk compared to Bitcoin creates room for the former to deliver a larger return during a bull cycle. He also points out that ETH has defended a higher-timeframe low near $1,388 and expects it to break below this level would invalidate the bullish structure.