The price of ETH is about to rise almost 200%, when.
Donald Trump's second presidential victory has sent excitement into the cryptocurrency market. Bitcoin led the charge, surging 10 percent to a new all-time high of $76,203 as buying activity picked up amid renewed optimism. Investors are showing confidence, with Trump's pro-crypto stance expected to influence favorable policies for digital assets. This victory is fueling hopes for more crypto-friendly regulation, especially with SEC leadership changes, possibly paving the way for more industry growth.
Amidst so much BTC noise, Ethereum is making waves, with its Spot ETF showing significant gains and climbing to $2,878. The market is buzzing with one big question: Could Ethereum be on its own explosive rally? A number of factors, from increased DeFi activity to renewed investor optimism, are driving ETH's rise, leading to speculation of a significant price increase in the future.
Let's explore what's fueling this rally and what's next for Ethereum.
Dan Tapero's bright prediction for Ethereum
Macro investor Dan Tapiro believes that Ethereum (ETH) is too undervalued and could rise by 171% from its current price. 10T Holdings CEO Tapero shared with his 120,000 followers on X that Ethereum's decentralized finance (DeFi) potential could flourish under a pro-crypto administration led by incoming US President Donald Trump.
Trump's promise to replace SEC Chairman Gary Gensler, often seen as anti-crypto, is reinforcing Tapiron's bullish attitude. He predicted that the Ethereum coin could break $4,000 and go above $8,000 within a year, which is an indication of the coin's strong network effect and consistent usage that will continue to grow.
Because it holds a 100-day moving average, Tapero describes it as a “core asset” of the digital ecosystem. This sentiment is shared by widely followed analyst Benjamin Cowen, who is now reconsidering his bearish stance on Ethereum, noting that ETH's recent strength and key support levels on Bitcoin (ETH/BTC) have the potential to hold.
Analyst Benjamin Cowen reversed his position.
Cowen advised investors to watch ETH/BTC, suggesting that if it can hold above the 50-day moving average around 0.039 BTC, it could confirm the market's bearishness on Bitcoin. ETH/BTC is currently trading at 0.03864 BTC (around $2,946), up more than 7% over the past day, further reinforcing Tapiero's prediction of a strong year for Ethereum.
