Crypto analyst Crypto Patel shared realistic targets that Ethereum price can achieve in the next bull run. The analyst compared potential market caps to those of popular US companies, noting that Ethereum has gone mainstream and could take on them.
Realistic Targets for Ethereum Price in the Next Bull Run
In a MessageCrypto Patel said the “ultra bearish” target for Ethereum price during the next bull run is $5,000, representing a 2.4x gain from current levels and a market cap of $610 billion. He also noted that it was dragging Current valuation of Visawith Ethereum poised to match the payments giant.
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Additionally, he said the “bearish” target for Ethereum price is $8,000, representing a 3.8x gain from its current level and a market cap of $965 billion. This puts Ethereum up there with retail giant Walmartwhich currently has a market capitalization of $1,000 billion.
The “baseline” scenario for Ethereum is a price target of $12,000, a 5.7x gain from its current level and a market cap of $1.45 trillion. This matches tech giant Meta’s market capitalization of $1.6 trillion.
Meanwhile, Crypto Patel said the “bullish” case for Ethereum price is a rise to $21,000, a gain of more than 10x from its current level, which would give ETH a market capitalization of $2.54 trillion. This will put Ethereum in the same range as Microsoft, which has a market cap of $2.8 trillion. I’m a few minutes late; my previous meeting is over.
The Ultra Bull case for ETH
The analyst set an “ultra bullish” target of $30,000 to $60,000 for Ethereum. This represents a gain of 14x to 29x from current price levels and would give ETH a market capitalization up to $7.3 trillion. This could put ETH above Nvidia, the world’s largest company by market capitalization, at $4.5 trillion.
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Crypto Patel explained that Ethereum is no longer just a “crypto” but is competing with the largest balance sheets in the world, which is why he is confident that the second largest crypto by market capitalization could achieve these goals. Tom Lee, the president of Ethereum Bitmine Cash Companyalso predicted that ETH could reach $60,000 and even rally up to $250,000.
Tom Lee predicted that the price of Ethereum could achieve these goals, as the network proves to be the future of finance, fueling the tokenization wave. He believes Wall Street firms will adopt the Ethereum network as tokenization of real-world assets (RWA) gains popularity.
At the time of writing, the Ethereum price is trading at around $2,200, up over the past 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
