Morgan Creek Capital’s CEO Mark Yusko has recently made a bullish forecast regarding Ethereum’s price, suggesting that the leading altcoin might attain a value in the tens of thousands. Yusko argues that Ethereum’s intrinsic qualities and its track record of outperforming Bitcoin could lead to a substantial price increase for Ethereum’s native token, ETH.
Ethereum’s Potential Price Leap
In a conversation with Altcoin Daily, Yusko referred to the historical price correlation between Bitcoin and Ethereum. He theorized that if Bitcoin were to hit a landmark price of $150,000, it could catalyze a 410% increase in Ethereum’s price from its current level. This projection is based on a potential future ratio of 1.5 between Bitcoin and Ethereum, as opposed to the historical ratio of 10 to 1.
Yusko went on to say that while some market participants have even loftier expectations for Ethereum, he sets a more conservative target range of $10,000 to $15,000 for ETH. This estimate falls within the realm of possibility considering Ethereum’s prominence in the decentralized finance (DeFi) and smart contract platforms.
Ethereum Outshining Bitcoin
At the time of the report, Ethereum was valued at $2,921, with Bitcoin at approximately $51,000. Yusko highlighted Ethereum’s history of eclipsing Bitcoin in terms of growth and expects this trend to continue, particularly during bull market runs where the final stages often exhibit explosive growth.
Yusko’s optimistic stance on Ethereum mirrors the general market sentiment that is increasingly confident in Ethereum’s potential for substantial returns. With its strong foothold in the DeFi sector and smart contract capabilities, Ethereum continues to be a focal point for investors anticipating its next big price movement and further expansion.