Ethereum Price Surges 50%: Top Expert Declares It The Best Crypto To Buy Now

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The Ethereum terms has crossed the $2,400 people for the archetypal clip since March of this year, marking a important betterment for the second-largest cryptocurrency by marketplace capitalization.

This surge represents a singular 50% summation implicit the past month, notably outpacing Bitcoin’s (BTC) 19% emergence during the aforesaid period. As a result, marketplace experts are progressively viewing Ethereum arsenic the premier cryptocurrency to invest.

Ethereum Price Potential Soars

Notably, VirtualBacon, a fig successful the crypto investigation community, precocious asserted, “Ethereum is the champion crypto to bargain close now.” He emphasized that portion the Ethereum terms whitethorn not person surged arsenic dramatically arsenic immoderate different cryptocurrencies, its cardinal strengths stay intact.

In a caller social media post connected X (formerly Twitter), VirtualBacon highlighted his updated timeline and targets for the Ethereum price, noting that the cryptocurrency is trading adjacent $2,500, a important betterment from its lows successful 2022 reached during the marketplace sell-off successful April.

According to the analyst, a cardinal indicator of Ethereum’s imaginable is the ETH/BTC trading pair, which precocious rebounded from multi-year support levels. Historically, specified bounces person often signaled the onset of altcoin cycles, aligning with shifts successful planetary liquidity.

VirtualBacon asserts that if the Ethereum terms tin reclaim the 0.382 Fibonacci retracement level against Bitcoin, it could spot a important summation of astir 60%. A further retracement to the 0.5 level would propulsion its worth beyond 0.05 BTC, enhancing the bullish sentiment surrounding Ethereum.

Currently, the Ethereum terms is consolidating astir these captious levels, which are viewed arsenic a beardown accumulation scope earlier macroeconomic conditions shift.

VirtualBacon Projects $10K For ETH

The expert besides argued that portion Solana (SOL) is faster successful presumption of transaction speeds, Ethereum remains the backbone for astir real-world applications (RWAs) and stablecoins. It is besides the lone altcoin recognized arsenic a commodity successful ineligible terms, gaining spot from organization investors.

Looking ahead, Ethereum’s aboriginal show is intimately tied to the Federal Reserve’s (Fed) monetary argumentation decisions. With quantitative tightening (QT) slowing to $5 cardinal per month—the lowest complaint successful caller history—the expert is keenly anticipating a imaginable intermission successful QT by the 3rd oregon 4th fourth of this year.

VirtualBacon forecasts that this intermission could trigger a bottoming retired of the ETH/BTC pair, paving the mode for important upside question for the Ethereum price.

VirtualBacon maintains a bullish outlook for Ethereum, suggesting that if Bitcoin reaches $200,000, ETH could deed a terms people of $10,000. If Bitcoin climbs adjacent higher to $250,000, the Ethereum terms could soar to $12,000.