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Here’s Why One Analyst Thinks ETH Is Headed for $10K

Today, investors in Ethereum (CCC:ETH-USD) certainly have a lot to be happy about. Ethereum (ETH) prices are near their all-time high, currently trading around $2,770 per token.

To put this incredible move in context, a year ago, one Ethereum coin traded around $200. This cryptocurrency has nearly been a 14-bagger for investors over the past year alone.

Additionally, Ethereum’s rise of roughly 40% month-over-month eclipses the move of other top crypto options such as Bitcoin (CCC:BTC-USD), which actually declined over the past month. There appears to be a divergence underway in terms of how cryptocurrencies move today. Accordingly, investors seem more eager to jump into Bitcoin alternatives in this environment.

Now, that’s some incredible appreciation in a relatively short amount of time. However, those still holding on tight for the long term have been emboldened by some pretty impressive predictions of where Ethereum could be headed.

Let’s dive into what some are predicting for where Ethereum prices could end up this year.

Analyst Predicts Ethereum (ETH) Prices Could Break $10,000 This Year

A five-digit price target is among the most recent bullish calls from analysts. Today, it was reported that FundStrat, a market research firm, has leveled a 2021 price target of $10,000 for ETH.

FundStrat’s research note highlights the reasons behind this bullishness for Ethereum vs. Bitcoin. Among these, the firm notes that decentralized finance (DeFi) applications and Web 3.0 apps are gaining increasing importance among crypto investors. Additionally, the Ethereum network has significantly grown in scale over the past year. If investors continue to pile into real-world use cases behind the cryptocurrencies themselves, Ethereum could go on a run.

Indeed, FundStrat believes this divergent move toward Ethereum and away from Bitcoin could be a long-term one. Accordingly, the firm is placing a $5 trillion market cap expectation on the entire cryptocurrency market and a $10,000 price target on Ethereum right now.

For investors considering Bitcoin alternatives, Ethereum remains the gold standard for such options.