• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
  • Free SpinsTry
  • Play FinanceTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Binance Sees $218 Million In Outflows Following CFTC Lawsuit
Ethereum

Why One Venture Capitalist Thinks Ethereum Will Rally 3,000% to $7,500 in Coming Years

Cole Petersen by Cole Petersen
3 years ago
in Ethereum
Reading Time: 2 mins read
Advertisement
Advertisement

Ethereum’s price action in recent times has been lackluster to say the least, as it has been closely tracking that of Bitcoin as it trades within a wide and long-held range.

It does not appear that this is emblematic of the cryptocurrency’s long-term outlook, however, as one prominent venture capitalist is now noting that he anticipates ETH to see massive upside during the next parabolic market cycle.

He notes that this growth could be catalyzed by its potential outperformance of Bitcoin, which could drive its USD trading pair to highs of $7,500.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

Despite this seeming like a pipe dream at the present moment, he does offer a compelling path forward for how this could occur.

It is also important to note that Ethereum has been building an incredibly strong foundation over the past couple of years, with it garnering massive utility and usership.

This fundamental strength may only be bolstered by the imminent launch of ETH 2.0 slated to occur at some point in Q3 of this year.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Ethereum Poised to Rally To $7,500 During Next Parabolic Cycle, Claims VC

Ethereum is presently trading within the mid-$200 region as it consolidates alongside Bitcoin and many of its other peers.

This lackluster price action has come about as a result of the lack of direction seen by the aggregated crypto market – which can mostly be blamed on Bitcoin’s consistent rejections at $10,000.

Ethereum
Chart via TradingView

Ethereum’s bout of sideways trading may provide investors with an ideal accumulation opportunity, as one VC believes that ETH will post massive gains during the course of its next uptrend.

Chris Burniske – a partner at Placeholder – mused this possibility in a recent tweet, offering a massive upside target of $7,500.

“If BTC goes > $50,000 in the next cycle, and ETHBTC returns to its former ATH, then expect to see ETH > $7,500,” he stated.

Burniske further went on to add that Bitcoin trading at over $50,000 is important because it would mark it having over $1 trillion in network value.

“Why Bitcoin > $50,000? As discussed in May 2019, if $BTC is half as volatile in this cycle as it was in the last, we would still expect it to cross $50K and $1 trillion in network value. $1 trillion has been a long time coming for this macro-asset.”

What Could Back This 3,000% ETH Rally? 

As for what could fuel this parabolic growth, Burniske explains that after siphoning funds into Bitcoin, mainstream investors will then look towards Ethereum as the “new kid on the block” – catalyzing a buying frenzy.

He also points to its strong on-chain economies as another factor that could help fuel its future growth.

It is a fact that ETH has seen a massive uptick in both its utility and usership in recent times. The rise of DeFi in 2019 kicked off this massive influx of new Ethereum users, while heightened on-chain stablecoin issuance in 2020 has further perpetuated its network activity.

Without their being any clear impetus for a massive influx of fresh capital into the crypto markets, however, it still remains unclear as to how likely another parabolic cycle truly is in the years ahead.

Featured image from Shutterstock.

Charts from TradingView.
Tags: ETHethbtcethereumethusdETHUSDT
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Shanghai

Ethereum Shanghai Update Gives Native Tokens A Boost In Price

2 days ago
Ethereum Layer 2

Arbitrum, Optimism, And Polygon: Which Is The Ultimate Ethereum L2?

3 days ago
Ethereum ETH Prices Below $2,000

Ethereum Pinned Below $2,000 Despite Network Burning Over 3 Million ETH

4 days ago
Ethereum (ETH) number of addresses surges

Number Of Ethereum Addresses In Profit Hits 10-Month High As ETH Continues Rally

1 week ago
Ethereum bull

On-Chain Data Indicates Ethereum’s Bullish Trend Could Continue

1 week ago
Ethereum

Ethereum Bullish Signal: $560M In ETH Exits Exchanges

1 week ago

Premium Partners

Play Finance

Trending Projects

  • 4 Best Upcoming ICO For 2023

    1 week ago
  • Crypto Investment for Long Term Growth in 2023

    1 week ago
  • 5 Cryptocurrency To Invest In 2023

    1 week ago

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
  • Ripple Not ‘Ripped Apart’ Amid Legal Battle With SEC...

    6 hours ago
  • Top 3 Altcoins For April 2023: Dogetti, Stacks &...

    6 hours ago
  • Top 9 ERC20 Tokens To Buy Now For Growth in 2023

    9 hours ago
  • Bitgert Backed Q-BRISE Set to Outshine Competitors with...

    10 hours ago
  • TMS Network (TMSN) Surges and Attracts Investors as Conflux...

    14 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games
  • Free Spins
  • Play Finance

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.