Leading altcoin Ethereum also attracted attention with its price action as a significant upgrade approaches. There are quite high predictions for ETH, which stands at the border of 3 thousand dollars. Mark Yusko, CEO and founder of Morgan Creek Capital, predicts that Ethereum will reach a five-figure price.
““According to the BTC/ETH ratio, 15 thousand dollars is reasonable!”
Mark Yusko says that based on the Bitcoin-Ethereum ratio that has been around for years, Ethereum could rise as much as 410% from the current level if Bitcoin gains approximately 193% from the current level and reaches a six-figure price target in the upcoming bullish cycle. In this context, Yusko says:
I probably have no reason to oppose the ratio between Bitcoin and Ethereum, which has existed for a long time. In the past, the ratio was almost exactly 10 to 1. So if Bitcoin was $20,000, Ethereum would be $2,000… Let’s say Bitcoin reached $150,000 as I thought it would. And let’s say the Bitcoin-Ethereum ratio doesn’t go all the way back to 10 to 1, but… Let’s say we go all the way back to 1.5. This means an Ethereum price of $ 10,000. I think there are many people who have this number in their brain. And a lot of people say, “This is not enough.” Let’s say it goes up to 10 to 1. Then the price of Ethereum would be $15,000. So it’s easily somewhere between $10,000 and $15,000.
Ethereum has greater rally potential than Bitcoin!
Meanwhile, Ethereum was trading at $2,959 at the time of writing. The leading altcoin increased by 1% on its daily chart and 7.5% on its weekly chart. The leading cryptocurrency Bitcoin followed a horizontal course in the same time period. About ETH’s expected price performance compared to BTC, Yusko says:
I could see a bigger rally in Ethereum than Bitcoin. In the pump part, this is what you’d expect from the last meteoric parabolic move. ETH has historically outperformed Bitcoin and probably should again.
Smart Ethereum whale took profit: Sell signal?
Observing the movements of smart whales provides valuable information for crypto traders and investors navigating the crypto waters. Because these are high capital addresses with a profitable trading history. A smart whale trading Ethereum recently closed a position worth $21 million for a profit of $5.32 million.
On-chain analytics platform Lookonchain states that the whale purchased 7,429 ETH worth $16.5 million on January 26. By February 23, Whale sold the entire position for $2,937 per token. Whale had previously carried out a similar operation from October 2023 to January 2024. He made a profit of $5.34 million from this trade. The smart Ethereum whale bought 9,217 ETH at $1,863 and sold at an average price of $2,442.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!