Bitcoin and Ethereum have both been very bullish in 2021. While most institutions have been betting on Bitcoin, some analysts believe that Ethereum is the horse to bet on for 2021. One such analyst is Scott Melker, host of the famous podcast, The Wolf of All Streets. In a recent interview, Scott stated that there was a clear pathway for Ethereum to hit $10k in 2021 and outperform Bitcoin.
Scott added that at a time like this last year, everyone had written off the second largest crypto asset by market cap, but it has beaten all odds to get to where it is today. According to Scott, a lot of building is taking place on the crypto asset network, especially now that it is transitioning to Ethereum 2.0. This, he said, is the reason for the explosion of DeFi projects on the platform. Scott added that the massive amount of Ethereum staked so far was a huge pointer to the direction that the asset is likely to take in the near term.
Scott also has a more short-term prediction for Ether. While his year-end prediction is $10k, Scott predicts that in the very short term, ETH could trade anywhere between $3500 and $3600. It will be interesting to see if Scott will be right about his prediction for the year. His short-term prediction seems much more attainable due to the strong bullish momentum in the market at this point. However, if it hits $10k, then anyone holding ETH now would be X5 in gains.