Crypto analyst Nicholas Merten makes massive Ethereum forecast for the end of the bull cycle – here is his goal
Well-known crypto analyst Nicholas Merten says top smart contract platform Ethereum (ETH) could grow another 325% before the current bull cycle comes to an end.
In a new strategy session, the host of DataDash tells its 458,000 YouTube subscribers what it thinks Ethereum will need to eventually break the $ 20,000 mark.
“If everything is going perfectly for Ethereum, if we get the opportunity to start ETH properly, people use roll-ups, be it zero-knowledge roll-ups or optimistic roll-ups, generally ‘layer 2 solutions ‘,’ we could see an Ethereum worth $ 20,000 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 Ethereum’s main chain, but record transaction data on it. The two types of rollups are zero-knowledge (ZK) rollups and optimistic rollups.
The closely-followed analyst says a rally to $ 20,000 may not be as bullish as it sounds if Ethereum maintains solid fundamentals. 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 movement for Ethereum ahead of us. The most important thing is to understand that there are phases in this cycle when Ethereum overtakes Bitcoin, which makes these higher goals reasonable. “
Ethereum is currently trading at $ 4,685 at the time of writing, up 7% over the past week, while Bitcoin has remained almost entirely sideways over the same period.
Check price promotion
Don’t Miss A Beat – Subscribe to crypto email notifications straight to your inbox
Follow us on Twitter, Facebook and Telegram
Surf the daily Hodl mix
 
Check out the latest headlines
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in bitcoin, cryptocurrency, or digital assets. Please note that your transfers and transactions are made at your own risk and you are responsible for any losses. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured image: Shutterstock / Vit-Mar
Comments are closed.