Ethereum Price Potential Soars Notably, VirtualBacon, a figure in the crypto analysis community, recently asserted, "Ethereum is the best crypto to buy right now.” He emphasized that while the Ethereum price may not have surged as dramatically as some other cryptocurrencies, its fundamental strengths remain intact. In a recent social media post on X (formerly Twitter), VirtualBacon highlighted his updated timeline and targets for the Ethereum price, noting that the cryptocurrency is trading near $2,500, a significant recovery from its lows in 2022 reached during the market sell-off in April.
With quantitative tightening (QT) slowing to $5 billion per month—the lowest rate in recent history—the analyst is keenly anticipating a potential pause in QT by the third or fourth quarter of this year. VirtualBacon forecasts that this pause could trigger a bottoming out of the ETH/BTC pair, paving the way for significant upside movement for the Ethereum price.
Currently, the Ethereum price is consolidating around these critical levels, which are viewed as a strong accumulation range before macroeconomic conditions shift. VirtualBacon Projects $10K For ETH The analyst also argued that while Solana (SOL) is faster in terms of transaction speeds, Ethereum remains the backbone for most real-world applications (RWAs) and stablecoins.
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