Bitcoin (BTC) has long outperformed previous ATHs in 2021, breaking records after recording.
BTC is at the heart of the market in its performance, but Ethereum (ETH) has been behind not only Bitcoin, but also other altcoins with weaker performance.
Ethereum has yet to surpass previous ATHs in 2021, but we've seen large gatherings in recent months.
This rise strengthened expectations that ETH will soon reach a new ATH, with one analyst releasing key bull forecasts for ETH.
Pseudonymous cryptocurrency analyst Yashasedu said that if Bitcoin reaches $150,000, Ethereum could exceed $8,500, based on past bull market trends.
Citing historical data, the analyst said these price levels are possible for ETH.
In this regard, analysts noted that in past bull cycles, Ethereum has typically reached 30-35% of Bitcoin's market capitalization. This figure reached around 35% in 2017 and almost 36% in 2021.
“For example, in the 2021 Bull Run, ETH reached $4,878, reaching 36% of Bitcoin's market capitalization.”
Once history repeats again, with Bitcoin reaching $150,000 (an increase of 25% from the current price of $119,335), Ethereum could surpass $8,500 at a 35% rate.
The analyst also added that if Bitcoin reaches $150,000, the price can be traded between $5,376 and $7,420 if ETH reaches 21.70-30% of Bitcoin's market capitalization.
According to the analyst chart, if Bitcoin reaches $135,000, Ethereum could reach $7,790. However, if Bitcoin reaches $135,000, ETH can trade between $4,834 and $6,678 if Bitcoin reaches 21.70% to 30% of its market capitalization, analysts said.
Another possibility is that if Bitcoin reaches $125,000, the price of ETH could reach $7,200, with a 35% chance of success. He also said that when the price of ETH drops to 21.70% and reaches 30%, it can trade between $4,479 and $6,183.
Finally, if Bitcoin stays at its current price level and ETH reaches 35% of Bitcoin's market capitalization, the ETH price could reach $6,800.
*This is not investment advice.
