Placeholder partner Chris Burniske has said Ethereum could easily surpass its all-time high if certain conditions are met.
"If $BTC goes > $50,000 in the next cycle, and $ETHBTC returns to its former ATH, then expect to see $ETH > $7,500."
According to Burniske, if the market volatility were half of that experienced between April 2015 and late 2017, it would be sufficient for BTC to exceed this level and reach a market cap of $1T:
"$1 trillion has been a long time coming for this macro-asset. Meanwhile, to the mainstream $ETH will be the new kid on the block - expect a frenzy to go with that realization. Given $ETH's outperformance of $BTC over its lifetime (chart below again), not to mention smaller network value and strong on-chain economies, I see every reason for $ETHBTC to surpass ATHs."
Representatives of the crypto community have criticized Burniske's forecast. For example, Ryan Selkis, founder of the analysis portal Messari, has said:
"ETH would need to win on a more fundamental level to hit that again."
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.