Ethereum Price Showcasing 2017-BTC Like Rally
Ethereum price is rising high, forming new highs every new day. The price is showcasing a constant uptrend without much dumps. However, the gas fees are the area of concern, it appears that it has not hindered the bull rally.
The ETH price is slowly heading towards the set target at $5000 and once smashed, the price is expected to rally high. According to many, ETH price rally is believed to be undervalued compared to that of Bitcoin. And hence a popular analyst il Capo Of $NOIA has extended the target for the current bull run from $10k to $20K.
There is a high probability that $ETH will go above $20k in this cycle
— il Capo Of $NOIA (@CryptoCapo_) May 11, 2021
Moreover, according to popular analyst, David Gokhstein, the Ethereum price rally is manifesting a similar wave that Bitcoin price had in 2017. Therefore, the price may rally as predicted by the analyst and the crypto space may not go with it, focusing more on the high gas fees.
Also Read: Ethereum Price Smashes $4000, $10000 Seems Imminent!
ETH, A $500B Asset Soon!
The price eventually may hit $5000 shortly, carrying the market capitalization above $500 billion. Currently, after the splendid rally, Ethereum has entered top 20 assets in the world according to market cap. It has surpassed J.P.Morgan and is on the verge to flip VISA to secure the 16th position.
One of the biggest advantages of ethereum of being in abundance may even flip Bitcoin to be the most valued crypto ever. As rightly pointed out by a popular analyst Simon Dedic, yet another 2X rally from the current, may flip Bitcoin.
Good Morning ☀️
— Simon Dedic (@scoinaldo) May 12, 2021