If I've learned anything in crypto over the years
is that just when people start giving up on a coin,
that's when it does its best work.
I want you guys to think about this.
With as much air that Bitcoin sucked out of the room this week
from the $1.5 billion Tesla Bitcoin purchase
and Ethereum doomsday preppers selling their Ethers in fear of the CME futures launch,
ETH still made a new all-time high last night of $1831.
$2K is around the corner.
But that's not enough.
We need $2500 by Valentine's Day so you nerds can get girlfriends.
Find out if that's going to happen today.
Let's get it!
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Now, in this video, we're going to be looking at why I still believe Ethereum will hit $2500 by Valentine's Day.
And, yes, I know it's only a week.
We'll be looking also at how we could get to $40,000 by the end of this year.
Seriously.
But let's get something straight right here off the rip.
I want $2500 by Valentine's Day.
That's why I predicted it.
And I do believe it's going to happen.
However,
let's be for real here,
whether or not it hits it on the day, before, or a few days later,
the point is this is where the price is heading to in short term.
When I predicted back in December that Ethereum would hit a new all-time high on January 17,
it actually hit it about 36 hours after my prediction.
The exact date is not really that important.
The important part is that it does in fact head to those prices relatively close to predicted dates,
and I'm very confident that we are heading to $2500 very soon.
Why do I believe that?
Well, the better question would be
"Why do people not believe that?"
Think about this.
80% of all money that flowed into cryptocurrency last week flowed into Ethereum.
Of course, much of that money was coming in on the new CME futures contracts.
So these are a way for investors to hedge their physical Ethereum holdings,
physical digital holdings anyways.
These futures contracts are settled in US dollars.
Many people have believed that these new ETH futures contracts would hold the price back.
But I never believed that.
It's all about timing.
If this was taking place in September or October near the likely peak of this bull cycle,
then I would definitely think it would signal the end of the bullishness.
But where this falls in this cycle?
It's more likely not to have the same effect as the CME Bitcoin futures launched in December of 2017,
at the peak of the market.
Of course, when that happens, it's a good idea to hedge to the downside,
but no one thinks that this is the top of this market.
People who know anyhow.
So what kind of effect will this have on the market?
A volatile one, so buckle in.
The world of institutional investing is one most people never get to peek inside of.
Now, imagine if you were a corporation or investment fund wanting to buy 100,000 ETH.
How would you do it?
Well, you certainly couldn't do it by signing up for a Coinbase account.
You basically have two options.
You can invest through institutional investment channels and vehicles like futures contracts,
or you could try the sometimes sketchy OTC markets.
With these future contracts launching,
now, more money can come pouring into Ether,
which could lead to a high level of volatility.
And this is good for us in a bull market because while the lows and pullbacks may be sharp,
the upside potential is what we need to get those Lambos.
Grayscale backs this up.
They've been making some incredible Bitcoin buys lately,
but it's the Ethereum buys that are starting to get the attention.
Recently, they bought 100,000 more ETH to add to their Grayscale Ethereum Trust.
They now have over 5 billion in Ethereum holdings for the trust.
Pretty insane when you think about it.
And you can see,
they were inactive buying during the time when they had suspended new investments into the trust.
As soon as they turned them back on last week,
the ETH buying resumed.
I would say that when we see pullbacks in the future,
it could be the big money attempting to get back in at lower prices,
especially due to how much Grayscale holds.
But Grayscale isn't the only entity buying Ethereum right now.
When you look at the exchange reserves,
you will see that, as the price is going higher, the amount of ETH on exchanges is plummeting.
The secret is out.
And the price will likely be heading up to $2,000 sooner rather than later.
The key level to watch now is $1800.
If the bulls are able to flip $1800 into support after rejection this morning,
then it could be all she wrote.
The closer ETH gets to $2K,
the more support will come in to push it over the top.
And it isn't only the technicals giving us the $2K hopium.
All the talk of EIP-1559 that will alleviate gas fees can also help save the day and send us spiraling upwards.
But more on that in a moment.
Insight Chart on Twitter and TradingView have posted some very interesting charts over the last week.
Of course, make sure to go give them a follow because I've gotten a lot of value on what they're posting.
They're showing a $2300 ETH very soon.
And a chart that recently showed up on Twitter and tagged me showed a trailing stop parabolic curve
putting Ethereum at $3200 on Valentine's Day.
And what's better is that they're showing a $4,000 ETH by the end of the month.
I do still believe we're going to get there by Valentine's Day,
but definitely by the end of this month.
Kind of what I'm seeing is me missing the prediction by 36 to 48 hours again
because the Lord has to keep me humble somehow.
It's difficult to ask.
No one wants to do it.
But where are we going in the longer term?
Well, that's a very interesting conversation.
$10K, $20 and $40K are all definitely still in play for this cycle.
Let's break down each of those numbers.
A December 31, 2021 call option is open.
And people are taking it.
Right now, there is $15.2 million in open interest for this call option.
But there are also some higher call options,
all the way to $100K.
And this is the reason we needed Wall Street to come into crypto.
It's big money.
But back to the EIP-1559 we mentioned earlier.
This is the Ethereum proposal meant to reduce gas fees and control the supply better through burning.
While this won't come into play until later this year,
when it does hit and there's an ETH hard fork,
some analysts believe Ethereum will balloon to $20K.
Now, the speculation is this could solve ETH's biggest glaring weakness,
the exorbitant gas fees that make life miserable for smaller traders.
Just this hope alone could set us up for big moves to the upside,
and $20K is not the top evaluation of the year.
Of course, I've been up front, where I believe Ethereum is heading to $27K,
but looking at another chart, it seems like we could end up at $40K by the end of the year.
That would be absolutely insane!
But there will need to be some consolidation points along the way.
So let me tell you what I see happening for this year.
I see Ethereum somewhere between $3K and $4K by the end of this month.
Then probably a retracement to $2500 in March, at some point.
DeFi will start popping again and ETH will shoot through the roof
over $10K
before another retracement in the summer.
Then, after Bitcoin peaks at September,
in October, Ethereum will skyrocket again somewhere between $20K and $40K.
And I can tell you this.
Once Ethereum hits $20,000,
it will make sense to start dollar-cost averaging out of Ethereum and really the market as a whole.
Ethereum's last parabolic move this cycle will signal the end.
Hopefully, there won't be as much volatility to the downside like cycles past.
This could be due to the fact institutional money has what the kids are now calling "diamond hands".
They borrowed "moon" from us,
so I'ma borrow "diamond hands" from them.
Fair trade?
Yeah, I think so.
But let me know exactly what you think is going to happen with Ethereum.
Am I going to be proven right as Bitstradamus again?
Or will we never see $2500 in February?
Make sure to drop those comments down below.
Help us get the Ethereum message out to more people by smashing the like button on this video.
And a special thank you to the BitSquad
for helping us to become the No. 1 channel in all of cryptocurrency.
That's all I got.
Be blessed.
BitBoy out.