A popular crypto trader is outlining a bullish scenario for Ethereum (ETH) that could potentially propel the top altcoin into five-digit territory by 2025. In a recent video update, Guy Turner, the host of CoinBureau, shared his insights with his 2.58 million YouTube subscribers, predicting that ETH is primed to surpass its previous all-time high and embark on a significant upward trajectory in the current market cycle.
Turner emphasized that barring any unforeseen events, Ethereum is likely to break through its previous peak of around $4,878, which was achieved in November 2021. Once this milestone is achieved, Turner believes that ETH will enter a phase of explosive growth, as historical levels of supply and resistance will no longer pose a barrier. This scenario would lead to a period of price discovery, where Ethereum could experience unprecedented price levels that have not been seen before or in a long time.
To support his bullish outlook, Turner employed Fibonacci extension levels to project potential price targets for ETH. He indicated that a “base case” scenario could see Ethereum reaching $7,300, which corresponds to the 1.618 Fibonacci level on the chart he presented. Fibonacci extensions are commonly used in technical analysis to estimate both profit targets and price retracements based on Fibonacci ratios.
Moreover, Turner suggested that if Bitcoin were to nearly double its current price and reach $200,000 in the coming year, ETH could potentially surge even higher to $14,600. This ambitious target reflects the possibility of capital rotation from Bitcoin profits into Ethereum, especially if BTC reaches unprecedented price levels that could stimulate increased investment in alternative cryptocurrencies like ETH.
As of the time of writing, Ethereum is trading at $3,686, representing a 5.5% decrease over the past 24 hours. Meanwhile, Bitcoin is priced at $101,143, down 4.6% on the day.
In conclusion, Turner’s optimistic forecast for Ethereum’s price trajectory in 2025 highlights the potential for significant growth and price appreciation in the coming years. As the crypto market continues to evolve and mature, it will be interesting to see whether Ethereum can achieve the ambitious targets set forth by analysts like Turner. Investors and traders alike will be closely monitoring ETH’s performance in the years ahead as the digital asset landscape continues to evolve.