A crypto analyst, Eric, believes Ethereum (ETH) could spike to $20,000 in the upcoming bull run. The analyst said the potential launch of spot Ethereum exchange-traded funds (ETFs) in the United States will propel this upswing.
Ethereum To $20,000 Possible
In a post on X, Eric cited Ethereum’s historical tendency to mirror Bitcoin (BTC), albeit with a one-cycle lag. In the previous bull market, the analyst noted that Bitcoin surged 22-fold from $3,100 to $69,000. Therefore, if Ethereum follows a similar trajectory, reaching $20,000 would be a realistic possibility.
As the analyst noted, Ethereum’s recent bear market bottom of $880 in 2022, if extrapolated using the 22x growth rate seen in BTC, places the coin at $19,360. However, the analyst believes Ethereum might surpass expectations, making $20,000 a base and a psychological round number to monitor closely.
Supporting this forecast is the possible approval of a spot Ethereum ETFs. Like the spot Bitcoin ETF, this authorizatio
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