Eric Trump, co-founder of World Liberty Financial, has made a bold prediction for Ethereum, stating it could reach $8000 amid rising global money supply and decreasing Bitcoin dominance.
Eric Trump's Prediction for Ethereum
Eric Trump endorsed a price target of $8000 for Ethereum, linking it to the rapid growth of the global money supply now at $95.6 trillion. This comes as Bitcoin's market dominance declines, suggesting increased institutional flows into Ethereum.
Market and Investor Reactions
Following his statement, Ethereum's price surged by 5%, indicating strong investor confidence. The trading volume of Ethereum exceeded $41 billion, with Bitcoin's dominance dropping below 60% often acting as a catalyst for ETH rallies.
Institutional Interest and Ethereum's Future
The growing interest in Ethereum ETFs signals robust demand from both institutional and retail investors. Approval of spot Ethereum ETFs and upcoming protocol upgrades contribute to optimistic expectations for Ethereum’s price trajectory.
Eric Trump's outlook adds to the existing optimism surrounding Ethereum, particularly amidst significant economic shifts and growing institutional interest.
