A popular analyst known for his timely cryptocurrency calls says Ethereum (ETH) could soon be headed for new all-time highs.
Pseudonymous trader Pentoshi tells his 799,900 followers on social media platform
“New ETH yearly highs on deck. We did it. You won’t believe what hopefully comes next…
ETH now at $4,000. Yearly highs below. We’ve discussed the early ETF changes and now the accelerated pace. There is no reason to think we won’t see all-time highs and perhaps beyond. If this pace continues for the flows, it won’t be long.”
The analyst also says that ETH is starting to outperform Bitcoin (BTC) and Solana (SOL).
“Remember when BTC was on the moon but zero CT (Twitter crypto) had exposure. ETH is very likely to be next. But most people left him for dead.
“It has now been quietly outperforming both BTC and SOL as they start bidding.”
He notes that demand for spot ETH ETFs remains strong.
“Last days of ETH ETF flows:
- December 5: $429 million.
- December 4: $167.7 million.
- December 3: $132.6 million.
- December 2: $24.2 million.
- November 29: $332.9 million.
I think more than all the previous net months combined. Basically there was nothing until after the election. Now the trend continues to grow at a fraction of the BTC market capitalization. At some point, this will be quite difficult. For now it’s just a waiting game.”
Ethereum is trading at $4,015 at the time of writing, up 5.1% in the last 24 hours. ETH reached its all-time high of around $4,900 in 2021.
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