A Promising Future for Ethereum: Analyst Predicts New All-Time Highs
Renowned crypto analyst Pentoshi, known for his accurate predictions, has indicated that Ethereum (ETH) is poised for a significant uptrend that could lead to new all-time highs.
In a recent tweet to his nearly 800,000 followers on X, Pentoshi highlighted the increasing demand for spot ETH exchange-traded funds (ETFs) as a key factor driving the potential surge in Ethereum’s price.
“ETH new yearly highs on deck. We did it. You won’t believe what hopefully comes next… ETH now at $4,000. Yearly highs next. Have discussed the early changes of the ETF and now the accelerating pace. No reason to think we don’t see all-time highs and maybe beyond. If this pace keeps going for flows, it won’t take long.”
The analyst also pointed out that ETH is showing signs of outperforming both Bitcoin (BTC) and Solana (SOL) in the market.
“Remember when BTC was mooning but like zero of CT (crypto Twitter) had exposure. ETH is very likely next. But most people wrote it off as dead. Now it’s been outperforming both BTC and SOL quietly as they begin to bid.”
Pentoshi emphasized the strong demand for spot ETH ETFs by highlighting the recent flow of funds into these products:
- December 5th: $429 million
- December 4th: $167.7 million
- December 3rd: $132.6 million
- December 2nd: $24.2 million
- November 29th: $332.9 million
He expressed optimism about the future growth potential of Ethereum, noting that the trend of increasing ETF flows could lead to a significant price rally in the near future.
As of the time of writing, Ethereum is trading at $4,015, marking a 5.1% increase in the last 24 hours. The cryptocurrency reached its previous all-time high of around $4,900 in 2021.
For the latest updates and alerts on crypto market movements, subscribe to our email alerts and follow us on social media platforms like Twitter, Facebook, and Telegram.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Generated Image: Midjourney