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Ethereum’s remarkable 50% surge over the past month has left many wondering if it can continue its upward trajectory and potentially reach the elusive milestone of $20,000. This question is especially pressing, considering Colin Talks Crypto’s bold prediction that Ethereum could hit between $15,000 to $20,000 in the upcoming bull cycle.
Colin’s forecast is based on long-term trend lines and historical patterns observed in previous cycles. The analyst believes that Ethereum’s smaller market capitalization and higher volatility compared to Bitcoin will allow it to outperform the leading cryptocurrency during this period. This prediction has sparked intense debate within the crypto community, with many users questioning whether such a massive growth is feasible.
However, considering the current price action of ETH and the broader bullish sentiment in the market, it appears that this could be the perfect storm for Ethereum’s ascent. In the past 30 days alone, ETH has gained over 44% to reach $3,640.83. Over the same time frame, Bitcoin has seen a more modest 13.6% gain, suggesting that investors are increasingly shifting their focus towards alternative assets.
It is crucial to note that this bullish momentum could be short-lived if institutional investors, which have been heavily accumulating Ethereum in recent weeks, were to suddenly dump their holdings or change their investment strategy. This risk cannot be overstated, and traders should exercise caution when entering long positions.
Source: coinpedia.org
