Top Analyst Unveils Ethereum Catalyst That Could Trigger Nearly 50% Surge for ETH – Here’s His Outlook

A prominent analyst has revealed a potential catalyst for Ethereum (ETH) that could lead to a nearly 50% surge in its price. The analyst, known as Pentoshi, believes that the approval of spot Ethereum exchange-traded funds (ETFs) in 2024 will provide a significant boost to ETH. Several major asset management firms have already filed applications for spot-based Ethereum ETFs with the SEC, indicating growing interest in these investment vehicles. According to Pentoshi, as the approval date approaches, market participants will become more reluctant to sell their ETH, creating a bullish momentum. Another crypto strategist, Michaël van de Poppe, shared a chart showing ETH outperforming Bitcoin in the first few months of 2024, suggesting that Ethereum is in the process of forming a bottom against Bitcoin. Based on his chart, van de Poppe predicts that the ETH/BTC pair could reach 0.12 BTC (worth $5,243) by April next year. Currently, ETH/BTC is trading at 0.05257 BTC ($2,297). These optimistic outlooks highlight the potential for a strong performance from Ethereum in the coming months.