- Ethereum Co-Founder Joe Lubin calls for a 100x ETH run.
- As the creator, his prediction holds more weight, igniting bullish expectations.
- Could this ETH pump finally trigger the altseason peak phase?
Ethereum is the asset that most eyes in the market are currently on at the moment. This is because the pioneer altcoin asset has only set one new ATH record in the entirety of this bull cycle. What’s more, soon after this ATH was set, ETH dropped and has yet to reenter its discovery phase. Amidst the wait, Ethereum Co-Founder Joe Lubin calls for 100x ETH. Could this move trigger altseason peak phase?
Ethereum Co-Founder Joe Lubin Calls for 100x ETH Run
In August, when BTC set its ATH in the $123,000 price range, the price of ETH went on to hit its only ATH price set this bull cycle so far, in the $4,900 price range, exactly 10 days after BTC hit its ATH that month. Since then, both assets went into a price correction phase and set local bottoms, allowing them to pump back up to promising prices. While BTC went on to set 3 more new ATH prices, ETH has yet to reenter its price discovery phase.
In detail, the price of BTC set three new ATH prices, two of which were set in the $125,000 price range, which were soon broken by a new ATH price set the next day in the $126,000 price range. These ATH prices were just set earlier this week, igniting expectations for ETH price to follow suit and set new higher ATH prices of its own, starting with the $5,000 bull target. Some predictions even expect to see ETH hit $16,000 by the end of the year.
ETH’s pump this bull cycle has been very slow. Initially, analysts expected to see ETH hit new ATHs in Q1, as traditionally, Q1 following the Bitcoin Halving year is often when altcoin prices surge and onset of he altseason peak phase. This was a clear sign that the crypto market is deviating from its original 4-year bull cycle. Now, analysts and traders are still waiting for altseason to arrive
Will This Trigger the Altseason Peak Phase
Despite a few altcoins hitting new ATHs so far this cycle, most analysts are certain that the peak altseason phase will not arrive unless the pioneer altcoin asset enters price discovery and sets exponentially high new ATHs. At the moment, many reputed analysts are waiting for ETH to reenter price discovery and soar towards new ATH targets, likely between $6,000 – $7,000 by the end of the month.
As we can see from the post above, Ethereum Co-Founder Joe Lubin calls for a 100x ETH price run in the coming weeks ahead. As a figure who helped build the system, his prediction holds a lot of weight in the crypto space and has thus ignited a far greater bullish expectation for the price of ETH to run parabolically and hit exponentially higher ATH targets in the coming weeks of Q4.