The Ethereum course has fallen in recent days from the resistance level around 4,000 dollars to around 3,650 dollars. Yet the popular analyst Altcoin Daily remains positive. He predicts that Ethereum (ETH) is on its way to a new all-time high of $ 5,600.
Ethereum popular with companies and funds
According to Altcoin Daily, there is increasing interest from large investors. Companies and institutional funds would already position themselves for the next increase.
For example, Sharplink recently bought 83,562 ETH, with which it now owns 1.87 billion dollars on Ethereum. Bitmine, the largest public holder of Ethereum, increased its position to $ 2.98 billion to ETH.
The Ethereum Spot ETFs are also gaining popularity. A new record was established in July: more than $ 5.2 billion flowed in capital to these funds. It was the strongest month ever in terms of entering.
ETH Expectation: Bullish pattern after Bitcoin-Halving
Altcoin Daily also points to a historical pattern: Ethereum often performs strongly after a bitcoin (BTC) Halving. The last halving took place in April 2024. In earlier Cycli, Ethereum rose on average by more than 64 percent in the following months. Augustus in particular often jumped out.
If that pattern repeats itself, a rate of $ 5,600 would be a logical price target for this cycle according to the analyst.
Source: https://newsbit.nl/crypto-analist-dit-is-wanneer-de-ethereum-koers-5-600-dollar-bereikt/
