Ethereum’s price reached a high of $4,000 two days ago but has since experienced a pullback over the last 24 hours. ETH is currently trading around $3,800 in the market. A crypto analyst with the YouTube channel Crypto Banter predicts that the Ethereum price could reach $18,000 soon.
Based on Ethereum historical data, the analyst noted that Ethereum price typically performs best during the first quarter of the year, particularly in January, February, and March. He explained that the cryptocurrency often bottoms against Bitcoin after halvings and tends to see robust upward momentum in the subsequent year’s first quarter.
Institutional Inflows, ETFs, and Upcoming Ethereum Upgrades
He acknowledged a trend in Ethereum exchange-traded funds (ETFs), which are experiencing increasing inflows. The inflow-to-market-cap ratio for Ethereum is currently higher than that of Bitcoin, suggesting that institutional investors are increasingly pivoting toward Ethereum. This trend is viewed as a bullish sign for the cryptocurrency’s future.
An important upgrade for Ethereum is scheduled for February or March, which the analyst believes will further bolster market confidence. Historically, Ethereum’s price has rallied significantly in anticipation of such upgrades, creating a favorable environment for investors.
ETH Market Catalysts
The analyst also pointed out potential catalysts in the political landscape that could benefit Ethereum, including crypto-friendly policies from a possible Trump administration. Additionally, the emergence of projects that enable fee-sharing with token holders could enhance Ethereum’s value proposition, making it an even more attractive investment.
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Overall, the combination of historical patterns, institutional interest, and upcoming upgrades the analyst positions Ethereum as a key player in the cryptocurrency market, with the potential to reach $18000 in the bull run.
