Fundstrat analysts forecast Ethereum price to reach $10,000 in 2021

Fundstrat analysts, in a weekly report, forecast Ethereum’s price rising further to levels above $10,000 in 2021.

According to the document, investors’ attention is shifting from Bitcoin to the second-largest cryptocurrency by market capitalisation and to other segments, such as DeFi and Web 3.0. This is aided, in part, by the development of new applications in the ecosystem, the researchers added.

Experts noted that Ethereum’s market capitalisation reached about 30% of Bitcoin’s total market value. According to the Fundstrat chart, a similar situation was observed in the first half of 2017 on the eve of a bull rally.

Analysts also are confident that in 2021 Bitcoin will reach $100,000, and the total market capitalisation of the cryptocurrency market will exceed $5 trillion.

On May 1, Ethereum hit an all-time high at $2870. Bitcoin traded below $60,000.

As reported, television personality Kevin O’Leary said that Ethereum “will always be number two” after digital gold.

Earlier JPMorgan analysts named the reasons for Ethereum’s outperformance over Bitcoin.

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