Famous price forecasters shared their price expectations regarding the leading cryptocurrencies. Accordingly, the forecasts include the price levels that analysts should watch for Bitcoin, Ethereum and Ripple. Let’s see together.
“We have seen the bottom in Bitcoin price”
Anthony Scaramucci, founder and managing partner of global asset management firm Skybridge Capital, conducted an interview with Marketwatch published Tuesday. The analyst shared his firm’s predictions for the fair market values of Bitcoin and Ethereum. Scaramucci says that the worst events in the cryptocurrency market are over. He also claims that Bitcoin has bottomed out. According to him, BTC will never fall below $ 17,500. In fact, the fair market value of BTC is currently $40,000. Scaramucci does not currently expect the Bitcoin price to rise directly due to macroeconomic uncertainties.
Scaramucci, who also gave an estimate for Ethereum, added that the fair market value of Ethereum is about $ 2,800. At the time of writing, BTC is trading at $23,167.48, up 14% in the last 30 days. ETH, on the other hand, is changing hands at $1,650.88, up 43% in the last 30 days. The analyst adds that people should look at cryptocurrencies from a 4-5 year perspective.
“Ethereum has the potential to rise to $5,000”
BitMEX co-founder and former CEO Arthur Hayes shared insights on how the price of the second largest digital asset (Ethereum) could rise. In a recent blog post, he predicted that Ethereum price could reach $5,000 after Merge. But he added that this will only happen if the network’s transition to Proof-of-Stake is successful and the Fed is no longer raising rates aggressively. The analyst expects ETH to retrace $3,500 unless there is a FED pivot. Former BitMEX CEO has similar views to Vitalik Buterin that Merge has not yet been priced by the market. As Cryptokoin.com reported, the Ethereum Merge upgrade will take place on September 19, 2022.
Another forecaster, BTCS Inc. Chief Executive Officer Charles Allen also shared his expectations for the Ether price. Participating in an interview, Allen said that he believes Ethereum could be the silver lining in the cryptocurrency ecosystem. Accordingly, the forecaster suggests that with the Merge upgrade, the value of ETH could increase drastically. Even for him, Ethereum is a bigger player in the cryptocurrency industry compared to Bitcoin.
Ripple (XRP) could jump to these levels
Crypto Rand, a cryptocurrency analyst, analyzed the Ripple price. Accordingly, the analyst says that the XRP price may be on the verge of a new rise. According to him, Ripple is moving in consolidation and preparing for an attack at $0.40. However, the mentioned rally will begin as XRP rises above the $0.40 price tag. According to available data, the altcoin is trading at over 80% lower than its ATH. Factors like the lawsuit with the SEC are pushing the XRP price down. Investors are hesitant to enter the altcoin as the case has not been concluded.
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