This has never happened before! The Ethereum ETFs are causing bullish forecasts: One analyst is now even predicting that Ethereum will overtake crypto market leader Bitcoin. This was previously considered impossible. Will ETH explode to six-figure prices? Should you buy Ethereum now?
Should you buy Ethereum now?
It was the news of the crypto year – right after the Bitcoin ETFs: ETH, the second most valuable cryptocurrency by market capitalization, is also getting an exchange-traded fund, i.e. an ETF. What’s more: There will not only be one ETH ETF – the responsible US Securities and Exchange Commission (SEC) has approved eight Ethereum ETFs. Of course, this includes the one from financial giant BlackRock.
Analysts have not yet fully digested the news, and the ETH price has not yet demonstrated the strength that it should build up through the bullish development. But industry observers are convinced that the Ethereum ETFs will cause ETH to explode to unprecedented prices in the medium and long term.
Even “flippening” is being discussed again. Unbelievable, but true: Many believe it is possible that the smart contract platform will now overtake Bitcoin (BTC) thanks to Ethereum ETFs!
Crypto analyst “JC”, for example, gives several reasons why ETH will overtake BTC according to his forecast:
“Ethereum’s user base is MUCH larger than Bitcoin.
ETH has more use cases than BTC and is more useful.
BTC NEEDS a centralized financial system if you want to do anything with it.
ETH has its OWN financial system with exchanges, bonds and loans, spending, etc.
Anyone can run an ETH node through solo staking (32 Ether) or home staking (a few Ether).”
With Bitcoin, on the other hand, you can no longer mine at home; the computers required are too large and expensive. And while BTC can and wants to only replace gold, ETH is already “the new financial system”. His ETH forecast is therefore that the flippening, i.e. the swapping of places with BTC in the crypto ranking, is coming – ETH will rise to number 1 among cryptos. JC:
“The Flippening is certain.
The only question is: When?”
ETH has already overtaken Bitcoin in the aspects mentioned. He therefore sees no problem for ETH to overtake it in terms of market capitalization as well.
Ethereum forecast disappointing: only $11k for ETH?
But what does that mean specifically for the ETH price? A quick calculation: If ETH now had the market capitalization of BTC, what would 1 ETH cost? BTC currently has a market capitalization of $1,335,678,387,223.
Ethereum, on the other hand, is worth less than half, at $456,798,690,489. If so many billions were to flow into the ETH network that the market capitalization rose to that of BTC, this would push the ETH price up by a factor of 2.92 – to a price of exactly $11,170.04.
In relation to the current price of $3,806, this corresponds to an increase of +193.49%. So far, however, the ETH price has been unimpressed by the Ethereum ETF news : ETH has lost -1.65% within the last 24 hours.
