Ethereum to $6,000 – what are the chances and when it might happen

Since the beginning of the year, Ethereum (ETH) has shown good results, growing by nearly 1% from January 27 to June 47.

However, in recent days cryptocurrency struggled, falling about 5% for the week and 12.9% for the month.

However, one of the popular crypto analysts known as Degentrading on X (Twitter) remains positive, predicting that by September 2024, Ethereum will reach $6,000.

This optimistic outlook contrasts with the more cautious view of Andrew Kang, founder of Mechanism Capital.

Kang is skeptical of Ethereum's potential even with the future spot launch Ethereum US ETFs.

Kang's analysis predicts a downward trend for the ETH/ BTC , expecting it to range between 0.035 and 0.06 next year.

He points to several obstacles, such as problems at prime brokers such as Genesis, which complicates spot borrowing as a hedge against long CME futures positions. In addition, the costs associated with maintaining a cash-and-carry position could affect the profitability of market making, potentially limiting expected capital flows.

While Degentrading acknowledges these factors, it countered Kang, noting the significant interest in ETH and Solana ( SOL ) among traditional financial specialists compared to BTC, which in part reinforces his positive prediction for the price of Ethereum.