Ethereum has demonstrated impressive gains over the past week, surpassing Bitcoin once again in terms of gains. While its gains outshone those seen from Bitcoin this year, Ethereum still has yet to set new all-time highs like its competitor has done significantly exceeding previous records. Analysts and experts alike are speculated on what may lie ahead for Ethereum should it follow its 2021 growth path as predicted by one expert analyst.
Is a Repeat of Ethereum’s 2021 Growth Feasible?
In 2020, Ethereum experienced a remarkable turnaround, witnessing its price surge 59 times to reach an all-time high of $4,800 by November 2021 due to market response to COVID stimulus payments. This trend aligned closely with Bitcoin’s four year cycle growth; and led many cryptocurrency analysts like Eric Conner to speculate that its performance might repeat itself, potentially reaching five figures range according to his calculations.
Conner disproved the assumption that Ethereum would simply return to its past highs before reaching a ceiling, proposing instead that even an increase from its lowest point could see its price surge 29x, reaching $41,000 and placing it within a trillion-dollar market cap range.
Could Ethereum Surpass Bitcoin?
Assuming Ethereum hits its target price point of $41,000, its market capitalization could surpass $5 trillion, more than doubling Bitcoin’s current market cap. Conner explained that under such circumstances, an Ethereum market cap exceeding this mark was possible as Ethereum continued its widespread adoption process.
This optimistic outlook emphasizes Ethereum’s growth potential and wider implications for the cryptocurrency market, suggesting both Ethereum and Bitcoin could reach unprecedented highs over the coming years.
