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Why $ETH is going to $20,000.
We have a very clear picture of the strength of Ethereum now compared to Bitcoin. It’s a strong weekly uptrend, the first since 2020 basically
That one led to a massive Ethereum run followed by a massive altcoin run. The only other sign to 101% confirm it is a close above the Monthly EMAs.
But lets talk fundamentals now. If Ethereum was following BTC, it would already be at almost $10,000. Furthermore, ETF buyers have now started to purchase ETH at 2-3x speed relative to BTC.
Several Ethereum strategic reserves have formed, but key point here for all of the funds/companies and buyers trying to accumulate, ETH is not as available as BTC for OTC. A lot of ETH is staked, and a lot of it is in DeFi.
Reports are already out that big MMs like Wintermute do not have more ETH for OTC. The current mcap of Silver is around 2.2T which would be a good target for Ethereum, sending it close to $20,000 per coin.
The supply of ETH has ‘dropped’ by 8.1 million ETH in the past 30 days thanks to ETFs and Strategic Reserves. Bitmine has just announced they are raising up to $20 Billion to buy more ETH. Institutions are FOMO’ing in and you are scared?