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Although Ethereum (ETH) has been traded below $150 in the last few weeks, there are some bullish traders that consider that the second-largest digital asset could reach massive price levels in the future.
Could Ethereum Massively Surge Again?
According to the experienced cryptocurrency trader Bitcoin Macro, Ethereum could move to $10,000 during the next bull market. This would represent a price increase of around 610% from its previous all-time high close to $1,400. However, if we take into account that Ethereum is currently being traded around $130, that means the digital asset should expand 7590%.
You can hate Ethereum as much as you want, but it's going to $10k during the next bull run.
— Bitcoin Macro (@BTC_Macro) December 25, 2019
The Tweet received several negative comments claiming that he is taking a too exaggerated stance on Ethereum or that this is extremely risky for new investors that would purchase ETH waiting for $10,000. It is worth mentioning that investors should never place more funds than what they are able to lose and always do their own research on cryptocurrencies, which are very volatile.
While we have heard many large price predictions for Bitcoin (BTC) during the last few years, this seems to be one of the least conservatives estimations. Bitcoin was traded around $20,000 back in 2017 and traders are waiting for it to reach new highs in the future. This year, in 2019, Bitcoin reached $13,750 but it was not traded around this price level for a long period.
One of the main catalysts for Ethereum to reach $10,000 in the future is related to Ethereum 2.0 and the migration from being a Proof-of-Work (PoW) network to becoming a Proof-of-Stake (PoS) blockchain project. This would allow users not to use Ethereum miners anymore and move to a decentralized network with staking for users, which are expected to receive rewards for holding their ETH.
It is possible to see the price effect that PoS activation had in other cryptocurrencies in the last few months. For example, Tezos (XTZ) was able to reach the top 10 with a valuation of $1.03 billion after several cryptocurrency exchanges offered staking for this virtual currency. Cardano (ADA) is also moving into offering staking to users, which is expected to push ADA prices up as well.
At the time of writing this article, Ethereum is being traded around $127.2. Meanwhile, it has a market capitalization of $13.87 billion.