ETH Surges Above $3,900
- ETH shows early signs of an upward rally, crossing $3,900.
- Analysts predict a major breakout for altcoins as Bitcoin surpasses $100k.
Ethereum (ETH) reached over $3,900 as Bitcoin hit an all-time high of $103,679 on Dec. 5.
Bitcoin Breaks $103k Mark
ETH’s price rose by over 5% as it spiked to $3,923 on major exchanges. The uptick in Ethereum’s price coincides with Bitcoin breaking key levels, leading to speculations of further gains.
Ki Young Ju, CEO of CryptoQuant, believes that Bitcoin’s surge is fueled by fresh capital and there is room for further growth. He stated, “At $102k, it’s far from a bubble—it would need a 43% surge to hit the threshold often considered a bubble.”
Analysts are optimistic about ETH’s future as Bitcoin’s breakout is expected to drive altcoins to new highs. This could potentially propel ETH and other coins to significant levels.
Price Predictions for ETH
Various analysts have shared predictions for ETH, with targets set at $4,000, the previous all-time high, and potentially $5k to $10k during an altcoin season.
Crypto analyst Miles Deutscher believes that ETH will lead utility coins upwards, and Bitcoin’s rally will benefit altcoins. Similarly, entrepreneur and crypto analyst Michael van de Poppe anticipates a strong altcoin run following Bitcoin’s consolidation.
Founder and CEO of Real Vision, Raoul Pal, envisions a “spectacular” rally for ETH if it breaks through the current ceiling.
Currently, ETH is trading near $3,920, up by 5.3% in the past 24 hours and nearly 60% higher in the last month.
