According to KOL Nicholas Merten, this is ETH’s target price for this cycle

Well-known analyst Nicholas Merten says leading smart contract platform Ethereum (ETH) could rise another 325% before the end of the current bull cycle.

In one Video He newly told his 458,000 YouTube subscribers that Ethereum will eventually reach $ 20,000.

“If everything goes perfectly for Ethereum and it starts right, everyone will use rollup, regardless of whether it is zero-knowledge rollup technology or optimistic rollup in general.” Layer-2 “solution, we could use Ethereum in this See cycle at USD 20,000. I know it sounds crazy, but if you look at the logarithmic chart, ETH has seen these impressive gains before. ”

Rollups are solutions that execute transactions outside of the main Ethereum chain, but record transaction data on it. Rollup has two main models, namely Optimistic and Zero-Knowledge.

The analyst added that if Ethereum maintains solid fundamentals, the rally to $ 20,000 won’t be as big a deal as many people think. He noted that such an increase was only about half of what ETH achieved in the first five months of 2021.

“I think it makes sense for ETH to hit this price point. Somewhere between my neutral and optimistic goals. It is important to understand that Ethereum will outperform Bitcoin in some phases of this cycle. That makes these higher goals reasonable. ”

Weekly ETH / USD Chart | Source: TradingView

Ethereum is currently trading at $ 4,485 at press time, up 4% from the previous week, while Bitcoin is almost completely unchanged over the same timeframe.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

SN_Nour

According to Dailyhodl

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page