A popular crypto analyst, Pentoshi, predicts a bright future for Ethereum (ETH). He claims the cryptocurrency is experiencing incredibly high demand, potentially leading to a new all-time high (ATH) price.
Unquenchable Demand for ETH
Pentoshi, with a massive following on X (formerly Twitter), describes the current situation as “an insatiable black hole of demand.” He believes an ATH is not a question of if, but 
A Bumpy Road to the Top
While optimistic, Pentoshi acknowledges the path to a new ATH might be bumpy, with potential temporary price drops (“fake-outs”) along the way. He advises patience.
Exchange Supply at Historic Lows
A significant factor contributing to Pentoshi’s bullish outlook is the extremely low supply of ETH on cryptocurrency exchanges. He points out that the current supply is the lowest it’s been since Ethereum’s initial coin offering (ICO), creating a scenario ripe for rapid price increases. He cautions, however, that increased supply could enter the market, but the current demand could still lead to “crazy irrational” price spikes.
Consolidation Ahead?
Despite the positive prediction, Pentoshi anticipates a period of consolidation for ETH. He expects the price to stabilize within a certain range while the market works through the current demand and existing supply. He notes that higher prices often unlock more supply, a process that takes time.
Current Market Conditions
At the time of writing, Ethereum is trading at $3,817, up 5.5% in the last 24 hours.
Disclaimer:
This information is for general knowledge and does not constitute financial advice. Always conduct your own thorough research before making any investment decisions./p>