Here’s an Interesting Price Prediction for Ethereum (ETH) This Bull Market, According to InvestAnswers
A highly-regarded analyst believes that Ethereum (ETH) could experience substantial rallies of up to 125% from its current levels throughout this crypto bull market. The mysterious host of InvestAnswers, whose YouTube channel boasts 494,000 subscribers, has employed the layer-in, layer-out model to determine potential price targets for the primary asset of the top smart contract platform.
This particular model takes into account various factors such as trend analysis, market behavior, and volatility. According to the InvestAnswers host, “I firmly believe that Ethereum has the potential to surge significantly. Based on our layer model, it could potentially reach $8,000. However, if you already possess a position, it may be wise to consider diversifying towards faster horses.”
Although the anonymous analyst anticipates new all-time highs for Ethereum, he advises that ETH only comprises 0.6% of his portfolio, as he believes other cryptocurrencies will outperform the second-largest digital asset. One altcoin capturing his attention is Solana (SOL), Ethereum’s main competitor.
“Solana is devouring Ethereum. Just consider its performance over the past year. Solana has outshined ETH by nearly 400%, and ETH has been on an impressive run,” he states.
During the mentioned period, ETH’s price climbed from $1,300 to $4,000, but even then, Solana performed significantly better.
At the time of writing, Ethereum is being traded at $3,385, while SOL has a value of $187.57.
Source: InvestAnswers/X
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