Can Ethereum Hit $20,000? (2020 Bull Run Signal JUST FLASHED!!)

Ethereum price action has been setting records. But what does this mean for the future?

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#ethereum

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Ethereum broke $2500 last week for the first time in almost 2 years and not only that the weekly RSI just gave us a signal that preceded a 10x run is history about to repeat itself time to discover crypto all right this is an article from BN crypto and they pointed out two

Signals that really give us very bullish momentum for ethereum potentially even a 10x increase just in the next year or two so to find these interesting realizations we’re going to look at eum’s price in the previous bull cycle and compare it to this one in the previous bull cycle around 2020 ethereum

Broke out of a longterm horizontal resistance area that lasted for more than 1,000 days let’s go ahead and look at that in the charts here this right here is the 2020 period in which they’re referring to and if we look you can see if you take the candles from way back

There and then it was approximately 1, 29 days later and then ethereum started its breakout from Above This previous Zone in that small amount of time ethereum then saw a massive surge it did a 5 and a half X in just a matter of 130 days folks that is only a little bit

More than four months and so to have more than a 4X in four months very very bullish but what does it look like right now in 2024 well let’s go ahead and see you know you can see a very very similar pattern we spiked a little bit higher

And then down Consolidated with slow movement up and to the right we spiked a little bit higher Consolidated uh slow movement up and to the right and then nice blastoff Zone let’s go ahead and measure out 1,000 days kind of what are we expecting to see in this time frame

So if you go forward around a th days folks if you look go down and look at the bottom of the screen here you can see this is going to be right around September and October I’m about to shrink a little bit I’m shrink after 1 th000 days if we finally do breakout

That will put ethereum around $3500 and you can see it right here but what would a 450% pump look like from that level and remember that happened over about a130 days look at that number on the right folks that would give us a $199,000 ethereum now I don’t think

We’re going to pump 450% after the breakout but I would respect a 225% pump which come in about half that level right there that would then put us at above a $10,000 ethereum flirting around with the $122,000 level now remember this is just the first indicator breaking out of the horizontal

Resistance Zone that lasted about a th days what is the second indicator and what can we expect from that how do we reach a $25,000 ethereum well we’re going to be using the RSI RSI is a momentum indicator in know I I identify overbought or oversold conditions and if

We go back to the previous level this is the period in which they were talking about I’m going to go ahead and ChaCha Slide to the left here and you can see here on the charts ethereum started to break out initially but then the co crash brought it back down into the

Undersold territory it left the overbought territory then it entered into overbought one more time and then we’ll look what happened to ethereum’s price we’re going to go right into the point where it starts to break out of the RSI overbought area and an even higher pump than we saw after the thday

Retracement there ethereum was able to experience a 10x in a matter of 200 days and if you look here on the charts ethereum just broke into the overbought territory on the RSI as well and what does a 10x from this first level give us folks that would give us a

$20,000 ethereum $22,500 but that’s just from when the RSI first broke into oversold a 10x from these levels you can see ethereum $2500 $25 $25,000 ethereum now it makes me feel pretty bullish when I think about a $25,000 ethereum cuz $10,000 makes me feel really bullish but when you look at

Assets ranked across the globe a 10x and a 20x doesn’t seem that Out Of Reach everybody this right here is all the asset classes ranked by market cap and you see gold is the number one asset class and now I’m going to chaa slide to

The right so we can uh make sure we see all the assets here Microsoft coming in number 2 2.89 trillion well you can see Bitcoin is a top 10 asset but where is ethereum ethereum even got to go a little bit lower and it’s ranked 30 30

At a $300 billion Market well what would a 10x do to 300 billion that would turn into a $ trillion market cap well where does that put us in the rankings folks look at that is the most expensive asset be gold even more expensive than Microsoft or apple now if ethereum does

Do a 10x I would not expect Bitcoin to just be still and stay at $830 billion I would expect Bitcoin to do around a 5 to 7x as well and if even if just come in with a 10x that would put it at $8 trillion putting Bitcoin at a very close

Second place to gold and gold Bitcoin ethereum as the three most expensive assets seems pretty doable to me and part of the reason I think ethereum will outperform Bitcoin over the short amount of period is look at this trend line dating all the way back to 8 years ago

This first touched February 2016 yes it was that long ago this is the eth Bitcoin trading pair and this is how much Bitcoin this number right here how much bit Bitcoin would it take to essentially equal one ethereum so one ethereum is equal to about 5.9% of one

Bitcoin and this trend line has been well well respected going all the way back to 2016 you see it touched it 2017 more support in 2017 uh turned into resistance in 2019 resistance again in February 21 then eth outperformed Bitcoin and it turned back into support and then turned into support again I

Expect ethereum to flirt with the 10% level I don’t know if it’ll go that high but I definitely think 8% is very attainable here which would give us a ratio of about roughly 12 ethereum equals 1 Bitcoin and one thing that makes me even more bullish on this

Metric here is ethereum is slightly deflationary while Bitcoin is slightly disinflationary and in case you’re wondering deflation means when the inflation rate is below zero meaning the supply is shrinking whereas disinflation is the inflation level Falls but still Supply is growing albeit just at a

Slower pace and if you look at the burn rate for ethereum in this is just over the past month they’ve burned 18,000 ethereum from the ecosystem here and given us a slightly deflationary rate of ne1 n% so I expect ethereum to slowly gain Satoshi and just keep this as a

General Trend I expect this trend line to maybe even be respected for the next eight years but this is crypto so that’s basically two Millennia so what do you think of these price targets is a 10x from these levels a little too high can we expect a $25,000 ethereum in 2025 I

Do expect the 2.5x to be much in the cards for 2024 giving us around a $67,000 ethereum so that’s where I’m coming in for 2024 how high do you think ethereum can go this year let us know in the comments down below remember every time you leave a comment put you in the

Running for our $100 giveaway that we do every Friday so make sure you go ahead and leave a comment everybody I’ll be reading those and I’ll look at your ethereum predictions and tell me how high can ethereum go