Ethereum had a productive 2021, but is closing the year on a less than bullish score. However, investor sentiment around the altcoin remains on the positive side as most cryptocurrencies are expected to perform well in the coming years. One of them is Armando Aguilar, a crypto research analyst from Fundstrat, who believes Ethereum will double in price next year. Bride, Cryptocoin. com
Let’s take a look at Aguilar’s 2x expectations, which we compiled as .
Analyst expects volatile market to continue next year
In a recent interview, the Fundstrat analyst stated that 2021 will be a volatile year for the cryptocurrency market. There have been several bull rallies and crashes that rocked the market throughout the year, and the analyst expects this volatility to continue into next year. However, in the last days of the year, things are not getting worse. Aguilar shared that institutional investors will embrace Bitcoin more, which will lead to what he sees as a successful year. This has some significant implications for Ethereum as the leading altcoin has yet to sustain above $4,000. Aguilar explained that while he expects the volatile markets to continue over the next year, he sees the Ethereum price doing very well as we enter 2022.
Analyst targets $9,000 in Ethereum (ETH)!
As for its ambitious price predictions, Aguilar sets the price of the second-largest cryptocurrency by market cap at $9,000 by the second quarter of 2022. This will be supported by the growth of DeFi, metaverse and NFTs. However, despite DeFi’s explosive growth in 2021, Aguilar thinks that growth will go into 2022 as institutional investors take a larger share of the market. As this demand grows, Ethereum value will grow with it, hitting $9,000 in the first half of 2022.
The analyst also shared some conditions for these estimates. According to Aguilar, for Ethereum to reach $9,000, Bitcoin also needs to grow explosively. Therefore, the analyst expects Bitcoin to finally reach the six-digit price in the same time frame. He attributes this to greater adoption by institutional investors as they turn to Bitcoin to combat rising inflation rates. Thus, the analyst expects the Bitcoin price to finally rise towards the enviable $100,000 price.