The largest altcoin, Ethereum (ETH), which has been lagging behind Bitcoin for a long time and has failed to meet expectations, now seems ready for a big explosion.
At this point, one analyst said that the market is going to explode this week and chose Ethereum as the main target.
Famous investor Eugene published a positive analysis about Ethereum and stated that he has high expectations for ETH.
“A breakout is expected this week and I have chosen Ethereum as my base asset,” Eugene wrote in his analysis on his channel.
Ethereum Becomes the Most Undervalued Asset!
Eugene cited Ethereum’s low market cap, institutional investment, and correlation with Bitcoin as factors that will drive its growth and explosion.
At this point, Eugene, who described Ethereum as the most undervalued asset this year, predicted that Ethereum would also rise when Bitcoin was strong, based on its correlation with Bitcoin, among other factors.
“After Ethereum fell from $4,000 to $1,400 this year, no one outside of developers saw it as a major investment target.
This means that from a long-term perspective, Ethereum is at its lowest value in the last three years.”
However, Eugene stated that traditional finance interest will now shift to Ethereum, saying, “Ethereum will become an investment target for mainstream institutions and traditional financial institutions in the infrastructure and stablecoin sectors.”
Bitcoin Could Upgrade Ethereum!
Finally, Eugene stated that the correlation between Bitcoin and Ethereum will be a driving force for ETH, saying, “If Bitcoin exceeds $ 110,000, Ethereum is likely to enter a bull market. Ethereum rarely underperforms when Bitcoin is in an uptrend.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/its-time-for-ethereum-eth-which-lags-behind-bitcoin-to-explode-analyst-points-to-this-week/
