The analyst told when the price of Ethereum can rise to $ 8500

The second in capitalization of cryptocurrency will reach $ 8,500 if the price of bitcoin exceeds $ 150,000. The cryptotraider under the pseudonym YashaSedu shared this forecast.

The expert noted that during the past bull markets, the capitalization of the broadcast was 30-35% of the digital gold indicator. In 2021, the value reached 36%.

“Now we are observing a similar situation,” he said.

YashaSedu indicated that TVL Ethereum recently exceeded $ 90 billion amid growing demand by public companies and ETF.

If the first cryptocurrency grows to $ 150,000, then while maintaining this proportion, the price of the broadcast will rise to $ 8656. Even a conservative script with 21.7-30% of the market value of bitcoin involves Ethereum growth to $ 5376-7420.

“I figured out the numbers. When breaking through the historical maximum, ETH will have a space for further growth for $ 4800, ”wrote Yashasedu.

Polymarket users assess the likelihood of altcoin to achieve a new record until the end of August at 76%.

On August 13, the second in capitalization of cryptocurrency overcame $ 4600. At the time of writing, it is traded at $ 4628 – 5.2% below ATH.

The chief analyst of Bitget Ryan Lee confirmed the prospects for the growth of cryptorrhist. According to him, in the fall, bitcoin can reach $ 140,000.

“A strong impulse is also noted in pairs with ETH. The interest of investors in altcoin is heated by an increase in the influx of institutional capital in ETH through spotes ETF, ”he said in a comment by Forklog.

The potential decrease in the key rate in the United States to 4-4.25% in September has attributed other key growth factors. Such an outcome of the FOMC meeting awaits 89% of the market participants.

“A permanent influx of funds to exchange funds strengthens the confidence of investors, and the expected decrease in the Fed’s rate in September should improve liquidity and support risky assets, which can become an impetus to the new altcoin rally,” the expert emphasized.

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Source: Cryptocurrency

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