Ethereum could reach over $8.5K if Bitcoin taps $150K, says trader
Main Idea
A trader predicts Ethereum could reach over $8,500 if Bitcoin hits $150,000, based on historical market cap ratios between the two cryptocurrencies during bull runs.
Key Points
1. Ether's market value has historically reached 30-35% of Bitcoin's market cap in past bull cycles.
2. If Bitcoin reaches $150,000, Ether could rise to $8,656 assuming it hits 35% of Bitcoin's market cap.
3. Even at a lower range (21.70%-30% of Bitcoin's market cap), Ether's price could still see significant gains.
4. Ethereum's total value locked (TVL) recently surpassed $90 billion, with increasing institutional interest and ETF demand.
5. Several analysts, including Fundstrat's Tom Lee and BitMEX's Arthur Hayes, predict Bitcoin could surpass $150,000 by year-end or reach up to $250,000 by 2025.
Description
Ether's market value has typically reached up to 35% of Bitcoin's in past cycles, and could reach $8,500 if the pattern repeats and Bitcoin hits $150,000.
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