Renowned macro investor and fund manager, Dan Tapiero, has made a bold prediction about the future of Ethereum (ETH). The CEO of investment firm 10T Holdings recently expressed to his 120,000 followers on social media platform, X, that ETH is significantly undervalued in the existing market and is poised for a dramatic surge.
Tapiero’s forecast suggests that ETH could potentially skyrocket by a staggering 171% from its current market value. His prediction is based on the potential growth of decentralized finance (DeFi) crypto projects that are built on the Ethereum blockchain, which he believes will thrive under the pro-crypto stance of US President Donald Trump.
The anticipated inauguration of Trump in January 2025 brings with it the promise to dismiss the current chair of the US Securities and Exchange Commission (SEC), Gary Gensler. Gensler is widely viewed as having an anti-crypto approach, and his removal could catalyze the growth of the DeFi sector.
“Ethereum too cheap. Gonna explode from here. Gensler and Co. killed DeFi in the US in ’22-24. Not killed now. Long live US DeFi. Break of $4,000 going over $8,000 in the next year,” Tapiero confidently stated.
The 10T Holdings CEO suggests that Ethereum will maintain its strength as a robust ecosystem due to its high network usage. He shared a chart that shows ETH holding the 100-day moving average on the daily timeframe as support, which is typically regarded as a bullish signal.
Meanwhile, Benjamin Cowen, a well-known analyst, has also been weighing in on the future of ETH. He’s reconsidering his previous suggestion that ETH could potentially drop to its logarithmic trendline, which could take it as low as $1,000.
Cowen stated, “I guess the elephant in the room is if ETH ‘goes home’. If ETH gets above its bull market support band on weekly closes, then I’m probably wrong. With ETH/BTC at 0.035 BTC it definitely makes sense to start hedging (as I have done and have mentioned).”
Cowen also hinted that ETH may soon confirm its market bottom against Bitcoin (ETH/BTC) if it can reclaim a key level as support. At the time of writing, ETH/BTC is trading for 0.03864 BTC ($2,946), up 7.33% in the last 24 hours.
These predictions offer a compelling insight into the potential future of Ethereum, painting a picture of a bright future for this key player in the digital asset ecosystem. As each day unfolds, the world of cryptocurrency awaits with bated breath to see how these predictions may manifest.
