Crypto Currency News

Ethereum price could scale to $ 8000 in less than 2 months

Bernhard Rzymelka, director of Goldman Sachs, assured that the leading altcoin will grow alongside inflation.

Many market specialists have given their predictions on the price of bitcoin (BTC) for the end of the year, but not much has been said about ether (ETH). The leading altcoin just hit an all-time high above $ 4,600 and has already multiplied 5 times since 2021 started. The most optimistic expectations suggest that it could double before the end of the year

In July, Goldman Sachs analysts suggested that ETH could outperform BTC as a store of value.

Bernhard Rzymelka, managing director of the US bank Goldman Sachs, recently spoke about ETH and highlighted it as one of the most sought-after assets by investors to store value. As he explained, rising inflation in the United States could skyrocket the price of ETH to $ 8,000 by the end of next month.

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Rzymelka remarked that the main cryptocurrencies have moved along with inflation – although in much higher figures, of course – since the end of 2019. In view of this behavior, ETH could jump between 90% and 100% in the coming weeks.

“(Inflation) lines up pretty well with the Ethereum chart, suggesting a late-stage rally with a longer-term market top ahead,” the businessman slipped..

Rzymelka’s insights come on the heels of one of PayPal’s co-founders, Peter Thiel, publicly linking the success of digital assets to the financial crisis across the globe since the spread of the coronavirus. Thiel assured that BTC and other cryptocurrencies are already part of the financial system and “regretted “not having invested more when prices were lower.

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