EU Macroeconomist Sees Ethereum Skyrocketing to $12,000

Macro strategist Henrik Zeberg has predicted that the price of Ethereum (ETH) could potentially hit $12,000 as soon as this year. 

In August, he predicted that the crypto bubble would be able to grow by another 400%. 

Recently, the pundit also stated that ETH would be able to “soar” while warning about “the biggest bubble ever.” 

During this period of “extreme” euphoria, ETH will be able to outperform BTC, but this will be followed by a devastating crash, according to Zerberg. 

Polymarket bettors are not that bullish 

At the same time, Polymarket bettors see only a 3% chance of Bitcoin hitting $10,000 this year. The odds of ETH hitting $17,000 currently stand at only 1%. 

The bulls have been disillusioned by the severe underperformance of the cryptocurrency sector during October. 

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Even after the most recent rate cut implemented by the US Federal Reserve, the Ethereum price remains unmoved since such an outcome had been widely priced in by the market. 

A major whale buys more ETH

Even though the market is currently in the doldrums, some major players are coming out of hibernation to make major moves. After a total of 11 months, a whale recently purchased a total of $22 million worth of ETH again, according to data provided by Lookonchain.  

ETHA bucking the trend

There are also signs of robust institutional demand for Ethereum (ETH). As reported by U.Today, BlackRock’s Ethereum ETF (ETHA) has managed to remain in the green despite Bitcoin ETFs hemorrhaging nearly $500 million.