With Ethereum ETFs finally hitting the market, everyone’s wondering what this means for the price of ETH. One crypto analyst, Doctor Profit, is making some bold predictions.
Ethereum ETFs: The Big Catalyst?
Doctor Profit believes that Ethereum ETFs are going to be a huge catalyst for ETH’s price, potentially pushing it past $10,000 and even reaching $14,000. He’s drawing a parallel with Bitcoin, which saw a significant price surge after Spot Bitcoin ETFs launched earlier this year.
He thinks that if Ethereum ETFs attract the same level of investor interest, the impact on ETH’s price could be even bigger than what Bitcoin experienced. He even predicts that Ethereum might soon outperform Bitcoin, a big statement considering Ethereum’s recent downtrend against Bitcoin.
Ethereum’s Dominance on the Rise?
While Bitcoin’s dominance seems to be showing signs of a correction, Ethereum’s dominance is on the rise. Many are looking to Ethereum to lead the altcoin market into a new “altseason.”
Price Targets for the Next Year
Doctor Profit has outlined some price targets for Ethereum over the next 12 months:
- Q3 2024: $4,500 – $5,500
- Q4 2024: $5,500 – $8,000
- Q1 2025: $5,500 – $8,000
- Q2 2025: $8,000 – $14,000
Doctor Profit’s Track Record
Doctor Profit bases his predictions on his experience and past successes. He accurately predicted ETH’s potential back in 2020, called the bottom in 2022, and even projected a target of $1,500 in 2023.
What to Expect in the Short Term
While ETH is currently trading around $3,460, investors are hoping for a break above $3,500 soon, potentially reaching $4,000 by the end of the week. Doctor Profit advises his followers to ignore short-term price fluctuations, as the real impact of the ETFs will be seen in 2-3 weeks.
