Ethereum price has been volatile of late, but in hindsight, it has grown exponentially this year. Eth has even outperformed Bitcoin and also dominates 19% of the total market cap. The price right now is in a consolidation phase and is on the brink of a big leg up or a leg down.
Popular trader and Youtuber Ben Armstrong has made bullish predictions for the ETH price this year. He has also analyzed Etheruem’s road for the next couple of years.
In a new video, Ben says the token has surged 200% already and has the potential to outperform Bitcoin in this bull market cycle.
The trader believes Ethereum will eat into Bitcoin’s market share after the bull run restarts around the end of July, based on all existing indicators and planned releases.
“By all available metrics, data, TA, and moon math, we should be resuming the bull run by the end of July. That would mean Ethereum would see stable upwards movement for several days with no corrections larger than 20% on average.
ETH Price to hit $25K in 2021 & $85K by 2025
Armstrong further says, this Defi summer will be in top gear, as the London hardfork to EIP-1559 will solve gas fees issues and speed up the network.
In addition to this, there are a myriad of Defi choices and the booming NFT market that will ride Ethereum’s glory and make a wave of dominance over Bitcoin in the days to come, says the trader.
Armstrong believes Ethereum Price can achieve $25,000 in 2021 and has the legs to keep running over the next several years, with more athletes and celebrities joining the NFT space and institutions continuing to stock up on the cryptocurrency.
“Because of this total takeover, I can see it’s very likely that by 2025, Ethereum will hit $85,000 per ETH. The first step to that will be, of course, $25,000 ETH this year. Don’t give up on that. Ethereum won’t just be digital oil in 2025, it will be the blockchain fuel of the future.”