Ethereum is gaining popularity amid rising prices and interest from institutional investors. Recent forecasts and analysis show positive trends for the second-largest cryptocurrency.
Arthur Hayes' Prediction for Ethereum
Ethereum recently crossed the $2,780 mark, triggering significant investor interest. Arthur Hayes, former CEO of BitMEX, expressed confidence that the price of ETH could reach $10,000. He supported his prediction with a chart indicating early signs of price strength for Ethereum. 'Arise Chikun, it's time…[$ETH] = $10,000,' Hayes posted.
Key Changes in the ETH/BTC Pair
Since 2021, Ethereum has been in a steady downtrend against Bitcoin. However, signs of a bounce from the 0.02 BTC level are now apparent. This week's strong move to 0.025 BTC with rising volume indicates a possible trend reversal.
Amid Growing Institutional Inflows
Analysts note the growing interest from institutional investors in Ethereum. Recently, over $211 million flowed into Ethereum ETFs, with BlackRock purchasing $158.6 million worth of ETH. In June, whale wallets increased their ETH holdings by 36%. Additionally, Ethereum underwent a major upgrade that spurred a 50% price rally.
Thus, Ethereum is on the brink of significant changes, attracting attention from both retail and institutional investors. Predictions of reaching $10,000 from experts highlight positive sentiment in the cryptocurrency market.
