Ethereum News Today: Mike Novogratz Predicts Ethereum Could Surpass $4000 by Year End

Galaxy Digital CEO and crypto investor Mike Novogratz has shared a bullish outlook for Ethereum (ETH) following recent price declines, forecasting a move above $4,000 by year-end. In a statement on social media, Novogratz downplayed the significance of the so-called “quadruple top” technical pattern, arguing that it is not a strong bearish signal. Instead, he suggested that a mild correction is often followed by a new upward trend [1].

Currently trading between $3,000 and $4,000, Novogratz believes the market is setting up for a breakout. He emphasized that his experience in trading has shown that such patterns rarely lead to extended downturns, and the market is more likely to see a resumption of its upward trajectory [1]. His prediction contrasts with more bearish interpretations of the pattern, which some traders use to justify short positions.

Novogratz has previously stated that Ethereum could outperform Bitcoin in the next 3 to 6 months, a claim tied to the increasing number of companies adopting Ethereum for treasury management. He also highlighted that a breakout above $4,000 would trigger a phase of “price discovery,” indicating a potential shift in market dynamics [1].

In the same commentary, Novogratz also projected a much higher target for Bitcoin, suggesting it could reach $150,000 in this cycle. His rationale includes the strength of precious metals and crypto assets in an inflationary environment, as well as global macroeconomic factors such as rising US inflation, pressure for interest rate cuts from Donald Trump, and reflation policies emerging from China [1].

The remarks align with broader optimism in the crypto market, where investors are closely watching the impact of macroeconomic conditions and regulatory developments. Novogratz’s analysis underscores a belief that traditional and digital assets will continue to attract demand in a low-yield environment.

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[1] https://coinmarketcap.com/community/articles/688e28ee6ccfba6356251bcc/