🔰 Is there any possibility for Ethereum to Reach $3300 till Feb End
Prominent cryptocurrency analyst Michaël van de Poppe has expressed an optimistic outlook for Ethereum, suggesting a potential surge to $4,500. Van de Poppe attributes this positive trend to Ethereum absorbing Bitcoin's upward momentum, as investment capital shifts towards ETH.
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The analyst views this as a significant period for a transition from Bitcoin to Ethereum. Ethereum has recently experienced a notable price increase, rising by 9% in seven days and 17.5% in a month. The surge has extended to Ethereum-related cryptocurrencies, with MATIC and OP witnessing gains of 5% and 6% respectively. ETH reached $3,000 on Monday, its highest level in nearly two years, indicating a bullish trend.
The optimism surrounding a possible approval of a spot Ethereum ETF by the SEC, following Bitcoin's precedent, may have contributed to this surge. Analysts such as Tom Crown and Raoul Pal anticipate further increases, with predictions ranging from $3,300 by the end of February to a potential $20,000 during the next bull cycle. Altcoin Gordon, on Twitter, sets a target of $11,250 by the year's end.
Vitalik Buterin highlights Dencun as a crucial development, making Ethereum more "rollup-friendly" and improving scalability. Additionally, the integration of Verkle trees is expected to enhance Ethereum's efficiency and decentralization. The approval of a spot in the ETH ETF by the US SEC is another potential catalyst for Ethereum's price increase.
