However, according to one crypto capital manager, as soon as Ethereum does take out its former peak, the altcoin will “double” within “two weeks.” Here’s what that might look like if the top-ranked altcoin follows in the footsteps of the top-ranked cryptocurrency overall.
Ethereum Bulls Salivate Over Record-Breaking Surge, But ATH Has Yet To Be Touched
In 2017, both Bitcoin and Ethereum enjoyed a thunderous rise together, capturing the lion’s share of the cryptocurrency market capital.
But that won’t last for long, according to Moonrock Capital Managing Partner Simon Dedic. Dedic claims that like Bitcoin, as soon as bulls manage to breach the former high set at $1,400, the cryptocurrency will “double” in less than “two weeks” to over $3,000.
Here’s Ether’s Path To Doubled Prices In Less Than Two Weeks
A move of that size might sound implausible after the asset has spent three full years trading below the former high, but the FOMO that arrived once Bitcoin bypassed its former peak is the only example necessary. Options contracts on the altcoin reaching over $10,000 at the end of 2021 also bode well for the trending asset.
The chart above shows what such a breakout might look like, with Ethereum surging past its former peak and doubling to around $3,000 in a flash. Bitcoin price action placed behind ETHUSD could provide clues to the trajectory the altcoin could take.