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With market conditions trending higher, many speculators are contemplating whether Ethereum (ETH) could hit $10,000 in 2024. Currently, it is trading at $2,254, up 2.9% this month and 81% year-to-date. However, some analysts are backing Bitcoin Minetrix after its presale hits $7.5 million.
Analysts bullish on Ethereum
Given Ethereum’s trajectory in the last bull run, market participants are eagerly anticipating for the coin to hit $10k, hoping it comes in the early stages of the upcoming bull market rally.
Following the last Bitcoin halving, Ethereum rose from $200 to over $1,200.
If the same growth applies, ETH may soar above $13K by the end of 2024.
Even so, several variables are at play, mainly Ethereum’s significantly higher market cap of $272 billion.
As such, it is not as simple as using past data to determine future results. However, several analysts have weighed in on this possibility in 2024.
Geoff Kendrick, head of FX Research, West, and Digital Assets Research at Standard Chartered Bank, believes the coin could be headed to $4,000 by the end of 2024.
The analyst referenced the Bitcoin halving, speculating it “should lift all boats.”
Meanwhile, X commentator icircle_nft recently said ETH will rally to $5K by the end of 2024.
However, the analyst has higher hopes for ETH in 2025, forecasting it will reach $18K.
Meanwhile, FieryTrading said the coin is trading inside a rising wedge pattern and may reach $16K by the end of 2025.
That said, analyst CrediBULL Crypto is even more optimistic, speculating Ethereum could reach highs of $20K or a minimum of $10K by the end of 2024.
Ultimately, whether Ethereum will underperform, equal, or outperform its last market cycle remains to be seen. While most analysts are bullish, there are many opinions on where it could be headed.
Though many analysts expect Ethereum to outperform in 2024, some are more bullish on Bitcoin Minetrix after raising $7.5 million in the ongoing presale.
Bitcoin Minetrix raises $7.5 million in presale: what’s next?
Bitcoin Minetrix allows users to earn passive BTC rewards by staking on Ethereum.
The project is a cloud mining solution where users can stake BTCMTX for Bitcoin mining credits.
They can then burn these credits on the Bitcoin Minetrix platform for cloud mining power, receiving Bitcoin.
This use case requires no hardware or technical know-how from users, making it ideal for beginners.
Another benefit is that the decentralized and transparent BTCMTX eradicates the risk of cloud mining scams.
Other advantages include no space or noise constraints on the user and it offers a more eco-friendly way to mine Bitcoin.
These benefits seem to be supporting the project in the ongoing presale which has raised $7.5 million so far.
For what it offers, an analyst, Jacob Bury, says BTCMTX is set for more gains after launching.
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This article first appeared at crypto.news
