On December 26, crypto YouTuber Lark Davis said, “ethereum will make a lot of new millionaires in 2024.”
However, he added that those with a large amount of eth, purchased at much lower prices and staked, will do well in the next bull market. But those who enter the market now, with the asset trading above $2,000, will not be successful unless they have a lot to invest.
Big profits will be made by trading ethereum layer 2 assets, he said.
ethereum will become a millionaire in 2024, BUT not as you think pic.twitter.com/00YCLPyGCl
– Lark Davis (@TheCryptoLark) December 25, 2023
ethereum at $15,000
Lark highlighted a number of current and future layer 2 listings, such as zkSync, Starknet, Linea, Scroll, Blast, Manta and Celestia. “New listings can make money, especially in the short term,” he said.
Newly released tokens often show pump-and-dump patterns as they are rapidly unloaded by airdrop hunters. However, there have been several that have started trending shortly after listing on larger exchanges.
For ethereum hodlers, things could still go well in 2024. He compared eth gains from previous cycles and made a prediction for the next bull cycle in 2024 and 2025.
Now that the asset has broken out of its $2,150 resistance zone, it is “going to do big things.”
If ethereum makes gains similar to last cycle's high, or even a little less, “that will take us to around $15,000 per coin.”
This is due to a hypothetical 200% gain from the previous high, which was around $4,880 in November 2021.
For those who buy now, there is a potential 500-600% profit, he said, which is a “relatively low-risk bet for cryptocurrencies.”
ethereum is very strong fundamentally despite the recent lack of love from the crypto community.
eth Price Outlook
crypto markets are in retreat this Wednesday in Asia. As a result, eth prices fell 2% on the day in a drop to $2,223 at the time of writing.
Furthermore, the asset is now down 6.8% from its 2023 high of $2,385 on December 9. There is solid support in the $2,150 area, where it could head as markets continue to cool.
There is no doubt that the asset will perform well in the next bull cycle, but at the moment, ethereum's engines are failing a bit.
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