Popular crypto trader and YouTuber Ben Armstrong says that he can see Ethereum soaring to the tens of thousands of dollars as its ecosystem grows at an exponential rate.
In a new video, Armstrong lays out his bullish case for Ethereum (ETH), saying it has the fuel to overtake Bitcoin before the current bull market is over.
“It’s been an amazing run for Ethereum this year. Just look at the numbers. ETH is still up over 200% as of the time of this video, and it’s been flexing on Bitcoin all year. I even think Ethereum will flip Bitcoin in this cycle.”
At time of writing, Bitcoin dominates 41% of the total cryptocurrency market cap, whereas Ethereum shares just 19%, according to CoinMarketCap.
Taking a look at all available metrics and upcoming updates, Armstrong foresees Ethereum eating up Bitcoin’s market share after the bull run resumes around the end of July.
“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.
But DeFi (decentralized finance) summer will be in full swing, and the London hard fork to EIP-1559 is supposed to equalize gas fees and speed up the network. The race for Bitcoin dominance will be on…
With a plethora of DeFi options mixed with the NFT (non-fungible token) market heating up, Ethereum will climb up in value and market dominance like we’ve never seen before.”
With more athletes and celebrities joining the NFT space and institutions continuing to load up on Ethereum, Armstrong believes the cryptocurrency can hit $25,000 in 2021 and has the legs to keep running over the next few years.
“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.”
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