Dan Tapiero, the CEO of 10T Holdings, recently communicated his belief that Ethereum’s (ETH) current market valuation is undervalued. Through his social media account on X, he shared with his 120,000 followers that he expects the value of Ethereum to rise significantly, fueled by the expansion of decentralized finance (DeFi) projects on the platform.
What Changes Are Coming in U.S. Crypto Policies?
Amidst the upcoming U.S. presidential election, Donald Trump, anticipated to assume office in January 2025, has revealed plans to dismiss SEC Chairman Gary Gensler, who has been criticized for his restrictive crypto policies. This potential shift in leadership is generating excitement and speculation in the crypto markets.
How High Can Ethereum’s Value Climb?
Tapiero forecasts a remarkable 171% increase in Ethereum’s price, attributing this potential growth to its robust ecosystem and high network engagement. He noted a chart indicating that ETH has consistently maintained its 100-day moving average as a support level, serving as a bullish indicator for traders.
Benjamin Cowen also chimed in, revising his earlier prediction regarding Ethereum’s potential decline, suggesting that his outlook could change if the ETH/BTC pair surpasses specific thresholds. He emphasized that monitoring this pair is crucial for understanding market movements.
- Ethereum is currently priced low, presenting a potential buying opportunity.
- Expected pro-crypto policies from Trump could foster growth in the DeFi sector.
- ETH’s price could reach between $4,000 to $8,000 in the near future.
Presently, the ETH/BTC pair is trading at 0.03864 BTC, marking a 7.33% increase in just 24 hours. The diversity of opinions surrounding Ethereum contributes to a vibrant market atmosphere. Tapiero’s bullish outlook, paired with Cowen’s cautious perspective, underscores the necessity for market participants to navigate their decisions carefully in this fluctuating environment.