#ETH Ethereum is expected to steadily climb to its historic high target of $10,000

As a pioneering altcoin asset, Ethereum (ETH) has demonstrated outstanding strength and resilience this year. In the past week, the cryptocurrency market set a historical high for Bitcoin at the price range of $124,000, meanwhile, ETH broke through the price range of $4,700, just one step away from the historical high of $4,800 set four years ago.

Shortly after Bitcoin reached its historical high, the cryptocurrency market prices almost immediately fell, with the price of the leading crypto asset BTC dropping to $112,000 and ETH's price falling to $4,200, which is currently around this level.

Specifically, the price of ETH has shown some resilience, rebounding from the price range of $4,100 to $4,300, while BTC's price only fell from $115,000 to $113,000 and has now dropped to $112,000. This indicates that ETH's performance continues to outperform BTC, just like in the past few weeks, which has intensified expectations of Bitcoin's declining dominance and paved the way for the rise of altcoins.

Despite Ethereum and some promising altcoins sending numerous bullish signals, along with BTC's ongoing decline in dominance, a new expectation has dampened the bullish outlook for all price increases. In fact, a historic bear market is approaching in September, with analysts predicting that BTC's price will fall below $100,000 and will only begin to recover from October onwards.

$10,000 is the next bull target peak price

Therefore, most traders and analysts are now devising new strategies to cope with the red storm of September. Some are also gathering resources, preparing to take advantage of the market downturn to buy at the most opportune moment. Given the positive long-term outlook, analysts expect that once the September correction ends, the price of ETH will quickly rise to new highs in the five-digit range.