Ethereum Price Could Rally 100% To $335 If This Happens

Like its most popular peer in Bitcoin (BTC), Ethereum (ETH) is also trading higher since the start of the year, albeit falling short to some predictions. Last month, some analysts forecasted that ETH would be worth $240 five days ago, but resistance at $180 had it fall short, succumbing to $164 as of press time.

However, another crypto analyst isn't giving up hopes on a rally for Ethereum. This analyst's bet is fixed at $335 -- a hundred percent higher than its current price. Satoshi Flipper, who has a 39K following on Twitter, tweeted on Saturday, "Raising my #Ethereum target to $335$ETH/USDT."

Satoshi Flipper's reason for betting ETH's price to double in value is the positive fundamental factors that are presumed to buoy BTC's prices will trickle down to the rest of the crypto market, especially to Ethereum.

BTC, of course, will undergo its third halving in May, and that's seen as a highly bullish event. The first up to the second halving boosted Bitcoin's price to 5,333 percent, and if that is translated from the second to the third halving, BTC's price would be at $33,000 by July, according to one trader.

About the halving, Satoshi Flipper had this to say, "A year with a halving alone in it tells me we're going to have a bullish year. A volatile and bullish year. Common sense tells me so."

A soft fork also set to take place this year that is aimed at improving the "privacy and efficiency, and flexibility of Bitcoin's scripting capabilities" as the "bip-schnorr+bip-taproot+bip-tapscript" will be added to BTC's layer one this year. That's another event that will enhance BTC's adoption and a positive signal for the flagship crypto's price.

The rest of the crypto market is already in a rally despite the fact that most of the expected events only favor BTC. The cci30, the price index of the 30 largest cryptocurrencies by market capitalization, shows that BTC and the top altcoins were up from $2,502.87 to $3,360.47.

"Been telling you guys to buy $ETH after the bottom reversal - we started at $131 and it's almost $180. If you believe the $BTC halving is not priced in like I do and that #Bitcoin is going to have a very bullish year, then you can be certain that #Ethereum will follow along," Satoshi Flipper tweeted.