Crypto Expert dismisses market crash predicts ETH to reach new high in August Speculates on potential explosion of meme coins
Today’s cryptocurrency downturn has left many investors feeling pessimistic, amid speculation that Bitcoin could plummet to $50,000.
Contrarily, a handful of experts are advocating for buying this dip, emphasizing that the broader market trend remains bullish, and pullbacks are a natural part of the cycle.
For instance, prominent crypto trader @sassal0x, known for co-hosting the Into The Ether podcast and commanding a substantial following of 250,000, has boldly predicted Ethereum will achieve a new all-time high in August.
ETH’s current all-time peak, at $4,878 according to CoinGecko, serves as a benchmark for his forecast, suggesting Ethereum’s price could surge by more than 55% within a single month.
Experts are also optimistic about the prospects of Ethereum-based meme coins, including Pepe, FLOKI, and new presale tokens, anticipating significant returns.
Despite Ethereum’s recent 20% decline to $3,160, optimism for ETH’s future is building, especially with expectations of a turnaround in July. The introduction of spot Ethereum ETFs, slated to commence trading by mid-July, further fuels positive sentiment.
Bitwise, among the approved ETF issuers, has submitted a revised S-1 form to the SEC’s Division of Corporate Finance, signaling progress in ETF developments.
Bloomberg analyst James Seyffart predicts these ETFs could be live within the next fortnight, potentially amplifying institutional interest in Ethereum, albeit likely less than that seen with Bitcoin.
Meanwhile, the ETH/BTC trading pair is anticipated to benefit from the current positive supply shock affecting Bitcoin. With significant holdings from Mt.Gox and the US and German governments being actively sold, a breakout in the ETH/BTC pair above 0.06 could propel Ethereum towards new price highs.
In addition to institutional interest, Ethereum meme coins are also poised for growth. Investors are eyeing tokens like Pepe, FLOKI, and presale tokens such as Base Dawgz, which has already raised $2.3 million in its presale and launched a staking program.
Another promising contender, Pepe Unchained, has raised over $2 million in its ICO, driven by its Layer-2 blockchain’s promising attributes, including low trading costs and high staking rewards. Analysts project it could deliver substantial returns post-launch.
