Bitrabo Editorial
A well-known crypto analyst, Doctor Profit, has made a bold prediction that Ethereum will experience a significant parabolic move following the introduction of spot ETH ETFs before the year ends, capturing the attention of the cryptocurrency community.
Ethereum Expected to Rally Post-Spot ETH ETFs Launch
Doctor Profit emphasized on X (formerly Twitter) about Ethereum becoming the center of attention and possibly leading a major price rally as a result of the spot ETH ETFs launch, a scenario he had anticipated in the past. The expert anticipates a substantial parabolic surge for Ethereum in the coming months.
While some experts foresee a sell-the-news reaction triggering a correction, Doctor Profit disagrees. He believes that although the market may have priced in the ETF launch, it has not factored in the significant capital inflows expected into these products.
Due to Ethereum’s comparatively lower market cap than Bitcoin, Doctor Profit estimates that Ethereum could be impacted significantly more, potentially up to 209%, if it attracts the same level of investment as Bitcoin. He also speculates that Ethereum is primed to take over the spotlight from Bitcoin in the current bull cycle.
Altcoins have been rising alongside Bitcoin’s surge, but Doctor Profit anticipates Ethereum leading the altcoin market as Bitcoin’s dominance begins to decline, signaling a potential alt season on the horizon.
ETH Price Targets Set at $10,000 to $14,000
Reflecting on Bitcoin’s price action following the introduction of spot BTC ETFs, Doctor Profit anticipates a smoother ride for Ethereum post-ETF launch. He expects an immediate positive price response for Ethereum rather than a significant correction.
Setting ambitious price targets for Ethereum in the range of $10,000 to $14,000 within the next year, Doctor Profit plans to sell his holdings within this price range, which he had acquired at lower levels.
While acknowledging potential short-term fluctuations, particularly related to Grayscale’s ETHE selling pressure, Doctor Profit advises investors to remain calm and not panic, as he predicts any selling pressure to be temporary.