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<a href="https://xpertsstudio.com/eth-vs-btc-bitcoin-miner-jiang-zhuoer-sees-<a href="https://xpertsstudio.com/bitmine-nears-massive-ethereum-milestone-as-eth-holdings-reach-5-85-million/” title=”BitMine Nears Massive Ethereum Milestone as ETH Holdings Reach 5.85 Million”>ethereum-leading-this-crypto-cycle/” title=”ETH vs BTC: Bitcoin Miner Jiang Zhuoer Sees Ethereum Leading This Crypto Cycle”>Ethereum ($ETH) could reach $20,000 in the next few years
The premise for his thesis lies in $ETH’s trading range of five years, weak relative performance vis-à-vis Bitcoin ($BTC), as well as a potential rotation into higher-risk assets.
Analyst Sees $ETH Breaking 5-Year Range
As explained by the analyst in Sunday’s episode of the No Bs Crypto podcast, $ETH has been trading in a range of around $1,500 to $5,000 for about five years now, the token having touched both ends several times in the process, forming what he considers a large higher timeframe range.
Additionally, while Bitcoin is trading above the 2021 high, Ethereum is lagging behind, and the $ETH/$BTC ratio has reached such levels that it can allow $ETH to catch up with $BTC
His basic target is $10,000. He argued that doubling Ethereum’s previous range high near $5,000 would produce that level, while a larger range expansion could push $ETH toward $8,000 and $9,000 even before we consider other factors.
The $20,000 target will rely heavily on Bitcoin’s price. If the $BTC price stands at about $80,000, where it is currently close to, with $ETH/$BTC recovering back to its earlier high of 0.156, then Credible says Ethereum will hit above $12,000.
“Now, if we take a more optimistic scenario with Bitcoin at $100K, that gives us over $15,000 Ethereum,” Credible told his host Kyren. “And if we take the most realistic scenario, in my opinion, the Bitcoin highs at $126K will be broken and we’ll actually trade above those levels. Now we’re pushing $20K Ethereum and above.”
The crypto trader also pointed to $ETH’s higher risk compared to Bitcoin, with that, in his view, creating room for the former to deliver a larger return during a bull cycle. But his technical case rests on Ethereum defending a higher-timeframe low near $1,388.
Source: cryptonews.net