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The price of Ethereum could rise 3,100% and hit $ 7,500 after being operated by Bitcoin, an expert says

June 17, 2020

Bitcoin may be responsible for triggering an Ethereum (ETH) wave of valuations. According to the executive’s prediction Chris Burniske, altcoin has a chance to trade at $ 7,500 after BTC launched it.

For the specialist and partner of the PlaceHolder Investment Fund, if the price of Bitcoin is $ 50,000, Ethereum is automatically worth $ 7,500

However, To achieve these values, Bitcoin’s capitalization must reach $ 1 trillion in the market, which will also lead to an increase in the price of Ethereum.

Bitcoin capitalization drives Ethereum

The price of Ethereum could rise 3,100% and hit $ 7,500 after being operated by Bitcoin, an expert saysThe price of Ethereum could rise 3,100% and hit $ 7,500 after being operated by Bitcoin, an expert says

Expert Chris Burniske’s forecast is based on an appreciation of the cryptocurrencies BTC and ETH due to the increase in the market value of Bitcoin.

Like BTC, other assets like Ethereum should also be affected by the growth in cryptocurrency market cap. The trading pair between BTC and ETH could return to their all-time high (ATH).

According to Burniske, Bitcoin’s price will reach $ 50,000 with a market cap of $ 1 trillion. Consequently, For the specialist, this move will enable Ethereum to trade in excess of $ 7,500.

The executive commented on the cryptocurrency market forecast on Twitter last Sunday (14) when it recalled a post on the future of Bitcoin that was released in 2019.

In the message, the expert speaks about the great acceptance of Bitcoin and the expected price of the cryptocurrency in 2021. BTC’s market value growth will be responsible for Ethereum’s 3,100% price increase, considering Altcoin is currently trading at around $ 233.

“If the BTC price is above $ 50,000 in the next cycle and the ETH / BTC pair returns to its old ATH, the Ethereum price is expected to be $ 7,500.”

Great acceptance in the cryptocurrency market

In 2019, Chris Burniske published on the future of Bitcoin adoption and the price expectation of the cryptocurrency with increasing market capitalization.

The expert said in the publication that BTC’s price would be driven by a $ 1 trillion capitalization.

Also considering the volatility of the cryptocurrency in the market, Chris found that Bitcoin requires little variation to reach $ 50,000, so Ethereum would be worth $ 7,500.

“As discussed in May 2019, if the Bitcoin price in this cycle is 50% as volatile as in the previous one, we still expect a net worth of over $ 50,000 and $ 1 trillion.”

On the other hand, the specialist warned that it will be some time before Bitcoin’s capitalization reaches $ 1 trillion, which will result in Ethereum being exposed to a wave of market appreciation.