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Analyst who predicted ETH to reach mid-$3K now says $10K the next destination

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Digital asset investment company Magnetic co-founder Megan Kaspar is once again making a bold prediction for Ethereum (ETH), saying its price can reach $8,000 to $10,000 at the end of the year.

Kaspar cemented his status as an authority as far as ETH analysis and price projection is concerned when a prediction she made five months ago turned out to be true.

In January 2021, when the second-largest cryptocurrency was trading at just over $1,200, Kaspar noted that it was being overlooked by investors and it will rise to mid-$3,000. Five months after, Ethereum hit that mark as the digital currency set a new all-time high of more than $3,600.

$8K – $10K explained

Kaspar gave a reason behind her claim of the next destination of Ethereum’s price.

The Magnetic co-founder noted that the network has plans to veer away from the same system that is being used by Bitcoin (BTC) in confirming transactions to migrate into a far less energy-intensive method.

Speaking at Yahoo! Finance Live, Kaspar said, “The shift to proof of stake for block validation reduces carbon emissions by 99.9%, making Ethereum a green technology.”

This move, along with other updates on the Ethereum network, could push the cryptocurrency’s market capitalization to a trillion and, in turn, will move its price to “$8,000 – $10,000 a coin.”

Kaspar’s price target not the highest

Kaspar’s price target for Ethereum (ETH) might sound a little too high because it suggests a 300% increase from its current levels, but it almost matches the $10,500 price prediction of Fundstrat Global Advisors early this year.

The growing activity on the Ethereum network due to the increase in the number of decentralized applications being built on it was the basis of the calculations of analysts for their price projections.

But for now, at the time of writing, ETH is at $3,500 after enjoying a milestone when it hit the $3,600 mark for the first time.

 

Image courtesy of Cointelegraph News/YouTube

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Source: https://bitcoinerx.com/bitcoin/analyst-who-predicted-eth-to-reach-mid-3k-now-says-10k-the-next-destination/

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