As Ethereum approaches the $4,000 level, Peter Schiff has advised investors to take profits and rotate capital into Bitcoin.
Peter Schiff's Recommendations
Peter Schiff publicly urged long-term Ethereum holders to book profits near $4,000 and rotate capital into Bitcoin holdings. He argued that selling ETH and buying Bitcoin "is a better trade than holding Ether" since $4,000 has topped ETH twice in 2024.
Ethereum Market Analysis
However, ETHNews analysts point to fresh drivers that could push ETH past $4,000 in 2025. For instance, growing stablecoin use and tokenization have led public firms to amass Ether. Some firms now hold more ETH than the Ethereum Foundation. Additionally, data from Glassnode reported a 16% increase in first-time Ethereum buyers since June, indicating a possible shift in buyer behavior.
Future of Ethereum and Its Market Position
Despite Schiff's claim that ETH's Q2 rally is a "bear market rally in terms of Bitcoin," other analysts, like Benjamin Cowen, believe the ETH/BTC ratio's decline is over and anticipate a recovery for Ethereum. Most recently, inflows into Ether ETFs reached $2.12 billion, emphasizing a growing interest in the asset.
At press time, Ether traded near $3,700. While Schiff's warnings could prove valid, fresh buying patterns suggest Ethereum may breach the $4,000 barrier.
