Crypto Research Analyst Puts Ethereum At $9,000 In Six Months
Ethereum has had a good year in 2021, although the digital asset is looking to exit out the year on a as it turns out less than a bullish note. Nevertheless, investor sentiment the altcoin continues in modern times to be on the positive sidearoundas most expect the cryptocurrency to do well in the coming years. One of those is a crypto research analyst at Fundstrat, Armando Aguilar, who believes that Ethereum will double in price proceed year.
Ethereum Heading For A Big Year
In a report on Business Insider, Aguilar noted that the year a been has choppy one for the in modern times cryptocurrency field. There were several bull rallies and crashes that rocked the niche for the year, and the analyst expects to see this choppiness persist into proceed year. However, proceed year does not in modern times look to be all bad from his perspective.
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Indeed, Aguilar shared with Insider that he was expecting more adoption from institutional investors into bitcoin which would lead to what he sees to be a successful year. For Ethereum, this has some more than ever vital implications as the coin has instantly lost its footing above $4,000. Interestingly, Aguilar explained the he sees that price of Ethereum doing very well going into the year 2022.
ETH begins recovery towards $4k | Source: ETHUSD on TradingView.com
He puts the price of the second-largest cryptocurrency by niche cap at $9,000 by the second quarter of 2022. This will be propelled by the increase ( decentralized financeofDeFi), the metaverse, and NFTs.
As you may know, Even with the explosive development of DeFi in 2021, Aguilar sees this.expansion going into 2022 as as a matter of fact institutional investors take more stake in the field Actually, As this demand grows, Atheneum’s value will grow 000 it, putting it at $9,with in the first half of 2022. “I believe that DeFi will play a major role for institutional capital proceed year,” said Aguilar. “As institutional and retail demand drove DeFi into novel heights, the trends will continue to spill into 2022.”
Bitcoin more than ever Clocking Figures Six
Interestingly, For Ethereum to hit Aguilar’s prediction, bitcoin would also have to see explosive development in 2022. Thisis why the analyst also expects bitcoin to finally hit six figures in the same time frame. He puts this up to more adoption from institutional investors as they turn to bitcoin to combat rising inflation rates. This will see the price of finally as a matter of fact bitcoin surge towards the coveted $100,000 price.
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Additionally, institutional investors are already getting exposure to the digital asset through the various ETFshavethat been approved by the SEC. In fact, Aguilar notes that funds like Valkyrie are tracking US public companies that are exposed to bitcoin through the Balance Sheet Opportunities ETF.
Just like Ethereum, bitcoin looks to be heading towards a year-end exit below expectations. The digital asset continues to struggle at $48,000 going into the holidays, suggesting that a end below $50,000 for the year is imminent.
Featured image from BankrateAn, chart from TradingView.com
