A popular crypto trader is sharing an optimistic outlook for Ethereum (ETH) that could potentially see the top altcoin reaching five digits by 2025. Guy Turner, the host of CoinBureau, recently discussed his bullish scenario for ETH in a video update for his 2.58 million YouTube subscribers.
Turner believes that Ethereum is poised to break through its previous all-time high of $4,878, which was set in November 2021. Once this milestone is achieved, Turner anticipates a period of explosive growth for ETH, as there will be no historical levels of supply or resistance to hold it back. This phase of “price discovery” could propel Ethereum to new heights, according to the trader.
Using Fibonacci extension levels, Turner suggests that ETH could reach $7,300 as a “base case,” representing the 1.618 Fibonacci level on the chart he shared. Fibonacci extensions are commonly used in technical analysis to estimate profit targets and price pullbacks based on Fibonacci ratios.
However, Turner also considers a more bullish scenario where Bitcoin reaches $200,000 in 2025. In this case, he believes ETH could surge even higher to $14,600. This extreme bullish case hinges on the idea that profits from Bitcoin’s rise would flow into Ethereum, driving its price to new levels.
At the time of writing, Ethereum is trading at $3,686, down 5.5% in the last 24 hours, while Bitcoin is trading at $101,143, down 4.6% on the day.
In conclusion, Turner’s analysis paints a positive picture for Ethereum’s future price trajectory, with the possibility of reaching five-digit figures by 2025. As always, cryptocurrency markets are volatile and subject to change, so investors should exercise caution and do their own research before making any investment decisions.