ETH: Realistic peak target for this cycle
As in the case with XRP, we can estimate a realistic top for ETH in this cycle.
Last cycle, XRP was also around 50% BTC's marketcap at the top in early 2018.
With BTC at around 17k USD, so a marketcap of 300 billion USD, this gave us 150 billion USD marketcap for ETH, or around 1500 USD for the peak.
With this cycle BTC hitting 100k, this would give us 1 trillion USD marketcap for ETH at the peak, or around 8k USD. This seems unusually low, since we are now already at almost 3k.
For BTC at 200k, we get ETH 16k. More realistic.
But most likely, BTC will peak at around 300k, and ETH therefore at 3 trillion USD marketcap, 50% of BTC marketcap. This corresponds to a price of 24k USD.
This is also very much in line with the full 4.236 Fibonacci extension of the last ETH cycle top and low, it also points into the direction of 24k USD as a peak.
Of course, it could also be that at this peak, ETH will reach an even higher percentage of BTC's marketcap, maybe even almost parity. In this case, you can adjust the numbers accordingly.
But even with the conservative numbers from the 2017 cycle, we still get quite nice end-results for the peaks.
Last cycle, XRP was also around 50% BTC's marketcap at the top in early 2018.
With BTC at around 17k USD, so a marketcap of 300 billion USD, this gave us 150 billion USD marketcap for ETH, or around 1500 USD for the peak.
With this cycle BTC hitting 100k, this would give us 1 trillion USD marketcap for ETH at the peak, or around 8k USD. This seems unusually low, since we are now already at almost 3k.
For BTC at 200k, we get ETH 16k. More realistic.
But most likely, BTC will peak at around 300k, and ETH therefore at 3 trillion USD marketcap, 50% of BTC marketcap. This corresponds to a price of 24k USD.
This is also very much in line with the full 4.236 Fibonacci extension of the last ETH cycle top and low, it also points into the direction of 24k USD as a peak.
Of course, it could also be that at this peak, ETH will reach an even higher percentage of BTC's marketcap, maybe even almost parity. In this case, you can adjust the numbers accordingly.
But even with the conservative numbers from the 2017 cycle, we still get quite nice end-results for the peaks.