Ethereum — the biggest cryptocurrency altcoin out there that rivals Bitcoin in terms of national popularity and success in the crypto world — may hit $11,000 per coin in the future, according to AMB Crypto.
Excitement over Ethereum grew when the coin hit an all-time high of $4,878 per coin earlier this week. And the coin is currently imitating the growth of Bitcoin’s rise in 2017.
- At that time, Bitcoin had a huge rally that catapulted it up from $6,000 per coin to $19,000 in one month, which represents a 236% increase, per AMB Crypto.
- Ethereum’s growth may be on pace to do something similar. Assuming the coin rises by 236%, it would end up at about $11,000 per coin.
That said, “one shouldn’t forget that Bitcoin is one of a kind. Ethereum, on the other hand, is not the next Bitcoin,” according to AMB Crypto. “In fact, ETH’s rise hasn’t been strong enough to support a 343% rally in any way. Even a 236% rally looks doubtful at the moment.”
That said, cryptocurrencies Ethereum, Bitcoin and Polygon all dropped this week, which isn’t a positive sign for the coin, according to The Motley Fool.
- “Among the most prominent bearish catalysts is the move earlier this week from Chinese regulators to clamp down harder on Bitcoin mining,” The Motley Fool reports. “As a cryptocurrency that’s often used as a benchmark for the valuations of the sector, this Bitcoin-related news had ripple effects for most large-cap crypto tokens.”
However, experts suggest the coin might have a bright future if it holds its $4,000 value. Per Benzinga, this would “let the next bull run happen and for Ethereum to go on and possibly make further all-time highs.”