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Ethereum price rose by 1.5% today and moved slightly above the important resistance level at $3,000. While the coin remains in a bear market, some popular analysts believe that it has more upside in the near term as BitMine and long-term holders start buying.
Crypto Analyst Predicts that Ethereum Price May Hit $4,000 Soon
In an X post, Cas Abbe, a popular crypto analyst, predicted that the Ethereum price will soon jump to $4,000, a 35% upside from the current level. He pointed to its technicals on the daily chart, which show that the coin remains above the ascending trendline that links the lowest swings in June, November, and December this year.
That trendline has held steady since May, meaning that the coin may resume the uptrend in the near term. At the same time, as the chart below shows, the coin has formed a bullish divergence pattern.
A bullish divergence forms when an asset is in a downtrend. It is characterized by oscillators like the Relative Strength Index (RSI) and the MACD making a series of higher lows and lower highs. In this case, the MACD has jumped and is about to flip the zero line, while the RSI is about to move above the neutral point at 50.
The risk, however, is when the coin falls below the ascending trendline. Such a move will confirm the bearish outlook and invalidate the bullish ETH price forecast, and point to more downside. More downside may push the coin to the next psychological point at $2,500. Source: Trading View
Lee believes that Ethereum is an important chain that will continue gaining market share in the fast-growing real-world asset tokenization, which will have trillions in assets in the next decade.
Exchange has accumulated over 384,000 coins in the last 30 days, bringing its total holdings to over 4.1 million, which are now worth $12.2 billion. This growth makes it the biggest Ethereum holder in the industry, with SharpLink, following with 859,853 coins.
More data shows that long-term Ethereum holders have continued to accumulate Ethereum in the past few days. Addresses holding over 1,000 coins now control 70% of the supply, after they accumulated 120,000 coins since December 26. That is a sign that smart money investors are starting to buy, which may lead to more gains.Ethereum Holders are BuyingBuying
Ethereum price will also benefit as the ETH ETF outflows start fading. Data shows that these ETFs have had $58 million worth of inflows this week. These funds shed $102 million last week, a big improvement from the premium month’s $643 million.
Dis: All source from online media and experts analysis. Not financial advice.
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Warren Buffett, the legendary investor who famously dismissed Bitcoin as "rat poison squared" and vowed he wouldn't buy all the cryptocurrency in the world for $25, officially steps down as CEO of Berkshire Hathaway on Wednesday after six decades at the helm of the $1 trillion conglomerate. Buffett, 94, hands operational control to Greg Abel while remaining as chairman, marking the end of an era defined by value investing, long-term bets on American business and pointed skepticism toward digital assets that became a defining feature of his later years.
'Rat Poison Squared' And A $25 Offer For All Bitcoin
Buffett's most memorable remarks on Bitcoin came during Berkshire Hathaway's 2018 annual meeting in Omaha, where he escalated his criticism of the cryptocurrency beyond his earlier "rat poison" comment from 2014.
"It's probably rat poison squared," Buffett told CNBC, referring to Bitcoin's speculative nature and lack of intrinsic value.
The comment came as Bitcoin traded around $9,000, having collapsed from nearly $20,000 months earlier.
At Berkshire's 2022 shareholder meeting, Buffett sharpened his critique further, telling tens of thousands of assembled investors that he wouldn't pay $25 for all the Bitcoin in existence.
"If you told me you owned all of the Bitcoin in the world and you offered it to me for $25, I wouldn't take it because what would I do with it? I'd have to sell it back to you one way or another. It isn't going to do anything," Buffett said, contrasting the asset with productive investments like farmland or apartment buildings that generate income.
"Assets, to have value, have to deliver something to somebody. And there's only one currency that's accepted. You can come up with all kinds of things—we can put up Berkshire coins... but in the end, this is money," he added, holding up a $20 bill.
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Munger's 'Turd' Comment And Berkshire's Crypto Stance
Buffett's late business partner, Charlie Munger, was equally dismissive.
At the 2021 annual meeting, Munger called Bitcoin "disgusting and contrary to the interests of civilization."
In a 2022 interview with the Wall Street Journal, he said he was "proud" Berkshire had avoided cryptocurrencies, adding, "I think I should say modestly that the whole damn development is disgusting and contrary to the interests of civilization and I'll leave the criticism to others."
Munger later described cryptocurrency as a "turd" and likened its promotion to a "venereal disease."
A 60-Year Track Record Built On Tangible Value
Buffett's retirement comes after he transformed Berkshire from a failing textile mill he began acquiring in 1962 at $7.60 per share into a conglomerate whose Class A shares now trade above $750,000.
His personal fortune, built almost entirely on Berkshire stock, stands at roughly $150 billion even after donating more than $60 billion to charity over the past two decades.
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