Crypto analyst Patel shared realistic goals for what the Ethereum price can achieve in the coming days running of the bull. The analyst matched potential market capitalizations with those of popular American companies, noting that Ethereum has entered the mainstream and can compete with them.
Realistic Targets for Ethereum Price in the Next Bull Run
In Post XCrypto Patel stated that the “ultra bear” target for Ethereum’s price in the next bull run is $5,000, representing a 2.4x enhance from current levels and a market capitalization of $610 billion. He also noticed it sitting nearby Visa’s current valuationwith Ethereum positioned to match the payments giant.
He further stated that the target “bear” level for the Ethereum price is $8,000, which is a 3.8x enhance from the current level and a market capitalization of $965 billion. This puts Ethereum first retail giant Walmartwhose market capitalization is currently $1 trillion.
The “base” case for Ethereum is a price target of $12,000, representing a 5.7x upside from current levels and a market cap of $1.45 trillion. This equates to a market capitalization of tech giant Meta of $1.6 trillion.
Meanwhile, Crypto Patel stated that the bull case for Ethereum price is a rise to $21,000, which is an enhance of over 10 times from the current level, which would result in ETH is market capitalization worth $2.54 trillion. This will put Ethereum in the same bracket as Microsoft, whose market capitalization is $2.8 trillion. I’m a few minutes behind schedule; my previous meeting is coming to an end.
Ultra Bull case for ETH
The analyst has set an “ultra bull” target for Ethereum of $30,000-$60,000. This represents an enhance of 14 to 29 times from current price levels and gives ETH is market capitalization to USD 7.3 trillion. This could put ETH above Nvidia, the world’s largest company by market capitalization at $4.5 trillion.
Crypto Patel explained that Ethereum is no longer just “crypto” but is competing with the world’s largest balance sheets, which is why he is confident that the second-largest cryptocurrency by market capitalization can achieve these goals. Tom Lee, president Ethereum Bitmine Treasury Companyhe also predicted that ETH could reach $60,000 and even go up to $250,000.
Tom Lee predicted that Ethereum price can achieve these goals as the network proves to be the future of finance, driving a wave of tokenization. He believes that Wall Street companies will adopt the Ethereum network as real-world asset (RWA) tokenization gains popularity.
At the time of writing, Ethereum is trading around $2,200, having risen over the past 24 hours, according to data from CoinMarketCap.
Featured image from iStock, chart from Tradingview.com
