news 
Crypto Pundit Says Ethereum Price Is ‘Destined’ To Reach $10,000 This Cycle, Here’s Why
A renowned crypto analyst, Ted Pillows, has made a bold prediction about the future of Ethereum (ETH). According to his analysis, ETH is “destined” to reach the milestone of $10,000 this cycle. Pillows bases his forecast on several fundamental factors that he believes will drive the altcoin’s price higher.
While still in consolidation, the Ethereum price has yet to record a strong surge. However, Pillows sees a series of bullish factors that may propel the asset upwards. These include its dominance in decentralized finance (DeFi) due to its Total Value Locked (TVL) and Stablecoin liquidity leadership.
The analyst also highlights institutional demand and accumulation as significant drivers of ETH’s value growth. As institutional investors increase their exposure, the market could witness a surge in demand, which would likely drive the price higher.
Furthermore, Pillows emphasizes that Ethereum has a lower inflation rate compared to both Bitcoin (BTC) and 99% of altcoins in the market. This disparity could lead to increased interest and investment from whales, further driving up its value.
Given these factors, Pillows urges investors and traders to set their sights higher than the more conservative $5,000 target often discussed online. His projection is a more ambitious goal of reaching $10,000 by the end of this cycle.
Meanwhile, recent reports have revealed that Ethereum whales are taking advantage of the current market downturn to accumulate large quantities of ETH. According to TradeerPA, an analyst on X, there has been rapid accumulation of ETH tokens by Ethereum’s top investors.
The analyst believes this accumulation trend will create a new shift in market sentiment and drive prices up as demand increases. The recent sell-off may have caused panic selling for some traders, but whales are taking advantage of the dip to buy up more assets.
As the market continues to evolve, it appears that both fundamental and technical factors align to favor Ethereum’s price growth.
Source: bitcoinist.com
