Ethereum Price Could Replicate Bitcoin s, Hit $20,000 According to Metcalfe’s Law: Economist
KEY POINTS
Ethereum s price usually follows the trajectory of Bitcoin’s
Ether’s price has grown 60% since 2021 began
If Metcalfe’s Law is to be followed, Ethereum could likely hit $20,000 just as Bitcoin did in the past, analysts say.
Metcalfe’s Law could be the key to pinpointing the future price of Ethereum just like it was for Bitcoin, according to macro trader Raoul Pal. After examining data from the point when Bitcoin first hit 1 million addresses and applying that to Ethereum, Pal said the price chart appeared similar.