Ethereum Will Continue to Outperform Bitcoin, ETH at $4k Possible

Ethereum Sets New All-time High of $2,146 – Binance Rate. At the time of writing, Ethereum is trading at $2,115 after setting a new all-time high of $2,146 only a few hours ago.

The $2k price area is now a valuable support zone for Ethereum and ETH maintaining a value above this level will be crucial in ETH pushing higher.

In an earlier analysis, $2.5k was floated as a possible short-term target for Ethereum and if the current momentum is maintained, this level could be reached in the coming week. The possibility of Ethereum hitting this value is further affirmed by a stable Bitcoin that has its eyes set on $60k and beyond.

In summary:

  • Timothy Peterson has forecasted that Ethereum will continue to outperform Bitcoin in the short-term
  • He also forecasted that Ethereum could hit $4k in Q2
  • Ethereum just hit a new all-time high of $2,146 – Binance rate 
  • A consolidation above $2k is bullish for Ethereum and will provide a springboard for a push higher

In a recent Twitter commentary, Timothy Peterson of Cane Island Alternative Advisors forecasted that Ethereum will continue to outperform Bitcoin in the short term. Key to Mr. Peterson’s analysis is Ethereum’s historical performance against Bitcoin with ETH on average, outperforming BTC in the first five months of the year.

Below is Mr. Peterson’s tweet highlighting the possibility of Ethereum outperforming Bitcoin. Within the tweet, is a chart that provides historical data of Ethereum’s returns relative to Bitcoin. At the bottom row of the chart, is the average returns of Ethereum vs Bitcoin throughout the year.

Ethereum Could Hit $4k in the Next 3 Months

In a February 20th tweet that can be found below, Mr. Peterson also forecasted that Ethereum could hit $4k in the next 3 months. Doing the math, 3 months from late February equates to a late May possibility of Ethereum hitting his target.

Spread the love
FacebookTwitterLinkedinRedditMixWhatsappWordPressTelegramVkontakte
Share
Tags: Ethereum (ETH) ethereum eth news Ethereum Network Ethereum price Ethereum Price analysis

Recent Posts

Ethereum’s One Month Correlation with BTC Drops to 68% as $3k Beckons
  • Ethereum News 2

Ethereum’s One Month Correlation with BTC Drops to 68% as $3k Beckons

$3k Possible for Ethereum in the Month of May. Ethereum’s ongoing…

Ethereum 2.0 Deposit Contract Now Holds 4M ETH Worth $10.8B
  • Ethereum News 2

Ethereum 2.0 Deposit Contract Now Holds 4M ETH Worth $10.8B

Ethereum Aims for new ATHs as Options and Futures Expire…

Tesla sold 10 percent of its bitcoins. Cause of concern for cryptocurrency investors?
  • News coin 2

Tesla sold 10 percent of its bitcoins. Cause of concern for cryptocurrency investors?

Tesla released its first quarter 2021 earnings earlier this week.…

Gemini Exchange to Issue Its Own Credit Card for Cryptocurrency Cashbacks
  • News coin 2

Gemini Exchange to Issue Its Own Credit Card for Cryptocurrency Cashbacks

Users of the large cryptocurrency exchange Gemini will soon get…

Iranian government will use mined cryptocurrency to fight economic sanctions
  • News coin 2

Iranian government will use mined cryptocurrency to fight economic sanctions

Iran continues to explore the potential use of cryptocurrencies as…

Ethereum’s Recent High Fees Pushed More USDT to Tron
  • Ethereum 2019 News

Ethereum’s Recent High Fees Pushed More USDT to Tron

Tether’s Market Cap Hits $50 Billion. Mr. Ardoino’s comments were in…