Ether’s (ETH) BlackRock (BLK)-prompted surge past $2,000 on Thursday stole the spotlight from bitcoin (BTC), which is down slightly on the day, at around $36,500, while ether is now around $2,100. According to David Lo, head of financial products at Bybit, ether could push further. “Historically, ETH often makes significant gains following a peak in Bitcoin’s value, a pattern that may repeat here giving us a price target of around $2500,” said Lo. “After that, there may be a final rotation of profits into lower-cap coins before a cooling-off period, which may involve an overall 10-30% correction.”
This Is Why Altcoin Investors Struggle Despite Bitcoin, Ether Sitting Near Yearly Highs
Constantly diluting supply with token unlocks, selling pressure from venture funds, lack of fresh inflows to crypto and seasonal trends...