Analyst says Ethereum can reach $10k in 2024, new altcoin likely to follow
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Experts are discussing the potential future of Ethereum, a leading smart contract-enabled blockchain, as the crypto market moves towards a major bull rally. One analyst predicts that ETH might reach $10K by the end of 2024. Furthermore, analysts are bullish on Bitcoin Minetrix after surpassing $8.6 million in ongoing presale.
Spot Ethereum ETF tailwinds for ETH to reach $10k?
Renowned analyst, angel investor, and key opinion leader (KOL) Anthony Sassano believes Ethereum could reach $10k by the end of 2024 due to excitement surrounding a potential spot ETF launch.
Anthony explained, “If you’re talking about 2024, $6-$8K sounds like a good range.”
He continued, “But if the hype gets ahead of itself because of the ETF, we go bombastic. I don’t see why $10K wouldn’t be on the table.”
The KOL believes that the rise in institutional adoption of Ethereum will significantly benefit its price, and even if it fails to hit $10k, ETH will ascend to at least $6k by the end of 2024.
Sassano is bullish on Ethereum because it leverages a proof-of-stake consensus mechanism, a consensus that is significantly more green.
According to data on its website, Ethereum’s annual energy consumption in TWh/yr is 0.0026, compared to Bitcoin’s at 149.
Institutions often seek greener investments that align with the Environment, Social, and Governance (ESG) framework. Heavyweight fund managers like BlackRock commonly adopt this framework.
This is evident in a budding interest from BlackRock CEO Larry Fink, who recently said, “I see value in having an Ethereum ETF.”
However, Fink took this one step further, explaining, “These are just stepping stones towards tokenization, and I really do believe this is where we’re going to be going.”
The move is sparking massive excitement in the crypto industry, solidifying the prediction given by Sassano and other pundits.
Yet, amid this, analysts are even more bullish on Bitcoin Minetrix.
Bitcoin Minetrix presale exceeds $8.6 million
Bitcoin Minetrix is a platform that enables users to mine Bitcoin using cloud technology.
It provides an easy and secure alternative to traditional Bitcoin mining, allowing users to earn Bitcoin without the usual complexities.
Users can stake BTCMTX to obtain cloud mining credits, which can be redeemed for cloud mining power, leading to passive BTC rewards.
To mine BTC, users deposit BTCMTX to a decentralized smart contract, which eliminates the risk of cloud mining scams.
So far, the project has raised over $8.6 million in the ongoing presale.
Additionally, analysts, including Jacob Bury and No Bs Crypto, are bullish on the project.
The tokenomics of the project are strong, with users needing to stake BTCMTX. Additionally, many tokens will be locked in the staking contract, and rewards will be paid in mining credits instead of BTCMTX tokens.
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