A popular analyst known for his timely crypto calls has said that Ethereum (ETH) could soon hit a new all-time high.
Pseudonymous trader Pentoshi told his 799,900 followers on social media platform He said there may be.
“ETH hits new yearly high on deck. We did it. You won't believe what happens next…
ETH is currently $4,000. Next is the high price at the beginning of the year. We discussed the early changes in ETFs and their current accelerating pace. There's no reason to think it won't or can surpass its all-time highs. If this pace continues to flow, it won't take long. ”
The analyst also notes that ETH is starting to outperform Bitcoin (BTC) and Solana (SOL).
“Remember when BTC was mooning but there was zero-like exposure to CT (cryptocurrency Twitter)? It is very likely that ETH will be next. But almost people treated it as dead.
It is now quietly outperforming both BTC and SOL as they begin bidding. ”
He notes that demand for spot ETH ETFs remains strong.
“ETH ETF flows in the last few days:
December 5: $429 million. December 4: $167.7 million. December 3: $132.6 million. December 2: $24.2 million. November 29: $332.9 million.
I believe more than all the previous months when I combined the net. There was basically nothing until after the election. Currently, this trend continues to grow at a fraction of the BTC market capitalization. At some point, this will become quite difficult. It’s just a waiting game for now.”
Source: Pentoshi/X
Ethereum is trading at $4,015 at the time of writing, up 5.1% in the past 24 hours. ETH hit an all-time high of around $4,900 in 2021.
Generated image: Mid Journey
