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With market conditions on the rise, many speculators are contemplating whether ethereum (eth) could reach $10,000 in 2024. It is currently trading at $2,254, up 2.9% this month and 81% so far this year . However, some analysts are backing bitcoin Minetrix after its pre-sale reached $7.5 million.
Analysts are bullish on ethereum
Given ethereum's trajectory in the last bull run, market participants are eagerly awaiting the coin to hit $10,000, hoping it will arrive in the early stages of the next bull market rally.
Following the latest bitcoin halving, ethereum rose from $200 to over $1,200.
If the same growth is applied, eth can rise above $13,000 by the end of 2024.
Still, there are several variables at play, primarily ethereum's significantly larger market capitalization of $272 billion.
As such, it is not as simple as using past data to determine future results. However, several analysts have given their opinion on this possibility in 2024.
Geoff Kendrick, head of foreign exchange, Western and digital assets research at Standard Chartered Bank, believe the coin could reach $4,000 by the end of 2024.
The analyst referenced the bitcoin halving, speculating that it “should lift all boats.”
Meanwhile, X commentator icircle_nft recently said that eth will reach $5,000 by the end of 2024.
However, the analyst has higher hopes for eth in 2025, predicting that it will reach $18,000.
Meanwhile, ethereum-s-Next-Bull-Market-Top-Prediction/” target=”_blank” rel=”noopener”>FieryTrading He said that the coin is trading within a rising wedge pattern and may reach $16,000 by the end of 2025.
That said, analyst CrediBULL crypto is even more optimistic and speculates that ethereum could reach highs of $20,000 or a low of $10,000 by the end of 2024.
Ultimately, it remains to be seen whether ethereum will underperform, match, or surpass its last market cycle. While most analysts are optimistic, there are many opinions on where it could be headed.
Although many analysts expect ethereum to outperform in 2024, some are more bullish on bitcoin Minetrix after raising $7.5 million in the ongoing pre-sale.
bitcoin Minetrix Raises $7.5 Million in Pre-Sale: What's Next?
crypto-news.care/” target=”_blank” rel=”noopener”>bitcoin Minetrix allows users to earn passive btc rewards by staking ethereum.
The project is a cloud mining solution where users can stake BTCMTX for bitcoin mining credits.
They can then burn these credits on the bitcoin Minetrix platform to gain cloud mining power and receive bitcoin.
This use case requires no hardware or technical knowledge from users, making it ideal for beginners.
Another benefit is that decentralized and transparent BTCMTX eradicates the risk of cloud mining scams.
Other advantages include that there are no space or noise limitations for the user and it offers a greener way to mine bitcoin.
These profits appear to support the project in the ongoing pre-sale that has raised $7.5 million so far.
For what it offers, an analyst, Jacob Burysays BTCMTX will make more profits after launch.
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