The post Analyst Predicts ETH Could Mirror Bitcoin’s 200% Surge appeared on BitcoinEthereumNews.com.

Analyst predict that ETH’s chart looks almost identical to Bitcoin before it surged 200% last year.  Staked ETH has also been on the rise and is currently at 33. 3 million ETH, which is 27. 7% of the total supply of ETH. In a recent tweet, Bloomberg ETF analyst Eric Balchunas predicted that July 18 could mark the launch of the much-anticipated spot Ethereum ETF. This forecast comes after the Securities and Exchange Commission (SEC) made changes to the S-1 amendments, which demanded that companies update their registration statements and applications. Analyst Draws Parallel Between Ethereum and Bitcoin Price Trajectories Spot Ethereum ETFs are about to be launched, and opinions on ETH’s price are different. Some of the analyses are pessimistic, while others predict strong growth. Among the numerous forecasts, one stands out, suggesting that ETH could replicate Bitcoin’s performance. Follis, a well-known pseudonymous analyst, recently tweeted on X that, similar to how Bitcoin ETF soared between the years 2023 and 2024, Ethereum ETF could also do the same for ETH. In that time frame, Bitcoin went from $26,000 to an all-time high of $73,750. According to Follis, ETH’s chart looks almost identical to Bitcoin before it surged 200% last year. At the moment, the price of ETH is $3,108, and according to Follis’s forecast, it might rise to $9,324 within a year.  Everyone focussed on Germany and Mt Gox Meanwhile the Ethereum ETF is about to launch and the $ETH chart looks identical to $BTC before it pumped +200% last year Study ETF rallies pic.twitter.com/VWENNnO8dN — フ ォ リ ス (@follis_) July 9, 2024 For this to happen, there must be a rise in demand to a much higher level. Recent on-chain data suggests this is a real possibility. Additionally, Spot On Chain recently stated that a whale had…

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Filed under: News - @ July 14, 2024 11:12 am