Ethereum Skyrocketed 70% and Will Peak Again Once This Happens, Says Crypto Expert

Ethereum (CRYPTO: ETH) could be on the cusp of a significant rally that would see the cryptocurrency surge nearly 70% and reclaim its all-time high, according to a prominent crypto analyst.

What happened: Guy TurnerCoin Bureau host shared insights with his 2.53 million YouTube followers that suggest Ethereum (ETH) could hit its all-time high in 2025 following the expected Pectra upgrade.

The Pectra upgrade, expected in 2025, is a two-part hard fork intended to improve Ethereum’s speed, scalability and usability. Binance emphasizes that these changes will allow gas fees to be paid with any digital asset, offer larger rewards to larger validators, and improve the Ethereum Virtual Machine (EVM).

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Turner believes these improvements could be the catalyst Ethereum needs for a breakout, potentially attracting institutional investors. He explained: “ETH has been desperate for a breakout for quite some time. This could be the spark it needs.”

Currently, Ethereum is trading at $2,902, up 2% on the day. The cryptocurrency’s all-time high was around $4,900 in November 2021, and a return to that level would mark a 68% increase from its current value.

Why it matters: The potential increase in Ethereum’s value is in line with broader market predictions. A recent note from Standard Chartered predicts a four-fold increase in the market capitalization of digital assets by the end of 2025, driven by expected regulatory changes and mainstream adoption. This is consistent with Turner’s forecast and suggests a favorable environment for Ethereum’s growth.

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Additionally, Ali Martinez, another prominent analyst, expressed bullish sentiment towards Ethereum, citing an attractive risk-reward ratio. Martinez’s strategy is to set a stop loss below $1,880 and target a take profit price of $6,000, which is another indication of potential bullish momentum for Ethereum.

These developments come amid discussions about the potential impact of the Bitcoin Act, which could reshape the US economy by designating Bitcoin as a strategic reserve asset.

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