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Crypto Pundit Says Ethereum Price Is ‘Destined’ To Reach $10,000 This Cycle, Here’s Why
In a recent analysis, crypto expert Ted Pillows has expressed his bullish stance on Ethereum (ETH) and its potential to reach $10,000 this cycle. The analyst highlighted several key factors that could drive the asset towards such a target.
While ETH is still in consolidation mode, Pillows emphasized that the current price action does not necessarily mean the end of the upward trajectory. As Ethereum’s Total Value Locked (TVL) and Stablecoin liquidity dominance continue to grow, it may become increasingly difficult for investors to ignore its immense potential.
The analyst also brought up institutional demand and accumulation as a crucial factor in supporting ETH’s long-term value. The continued growth in this area could lead to increased exposure for the altcoin, further fueling its upward momentum.
Another key point Pillows touched on was Ethereum’s inflation rate, which currently stands lower than Bitcoin and over 99% of other altcoins in the market. This disparity, combined with ETH’s solid fundamentals and increasing adoption, may allow it to outperform many other assets in the space.
Given these factors, Pillows urged investors and traders alike to aim higher, dismissing a $5,000 target as overly conservative and instead advocating for a more ambitious projection of $10,000.
However, recent reports from TradeerPA suggest that Ethereum whales are actively accumulating ETH at an unprecedented rate. According to the data, over 430,000 ETH has been acquired in just 72 hours, with accumulation speeds reaching extraordinary levels. This significant shift in market sentiment may be enough to propel the asset towards previously unforeseen heights.
While it is essential to consider various factors when making investment decisions, these bullish indicators collectively suggest that Ethereum’s future performance could surpass initial expectations.
As a result, investors should keep a watchful eye on developments and stay prepared for potential price surges driven by these underlying trends.
Source: bitcoinist.com
