Rapidly growing institutional interest in Ethereum could drive the cryptocurrency above $4,000 and position it to outperform Bitcoin (BTC) within the next six months, according to Galaxy Digital CEO Michael Novogratz.
ETH Eyeing $4,000 Tally: Destined to be Attacked
Addressing CNBC, Novogratz stated, “There’s not a lot of supply of ETH, and so I think ETH probably has a chance to outperform Bitcoin in the next three to six months.” He expects Ether to “knock” the psychological $4,000 barrier.
“If ETH takes out $4,000, it goes into price discovery,” Novogratz noted, adding the ceiling represents an 8.5% jump from ETH’s recent $3,618 price point. The Galaxy CEO felt “destined to at least knock on the $4,000 ceiling a few times”.
Novogratz highlighted “really powerful” narratives, citing companies like BitMine Immersion Technologies and Sharplink Gaming, which have repurchased substantial ETH quantities. BitMine holds 566,776 ETH, while Sharplink holds 360,807 ETH. Furthermore, “Ether Machine,” an ETH fund aiming for a Nasdaq listing, manages over $1.5 billion in assets.
Novogratz dismissed the possibility of slowing institutional interest. “They are raising capital every day and buying Ether,” Novogratz remarked. Co-founder of BitMEX, Arthur Hayes, later predicted an ETH price of $10,000 by year-end.
Evidence for Novogratz’s view includes a surge in Ethereum’s relative strength index. According to TradingView’s ETH/BTC ratio, ETH has surged 36.53% over the preceding thirty days.
Bitcoin: 150,000 Target on Horizon?
Despite his bullish take on Ethereum, Novogratz remains optimistic about Bitcoin, suggesting it “destined to go higher.” Specifically, Novogratz mentioned a $150,000 price target for BTC.
Though non-specific, the figure signals significant upside from current Bitcoin valuation.
“It feels like we’re destined to go higher, as long as this narrative continues,” Novogratz commented. He added that until President Trump alters interest rate policy, his thesis faces less external headwinds.
Meanwhile, Bitfinex analysts posited a $136,000 BTC target if the ongoing uptrend persists, cautioning it might mark overextended conditions. Nonetheless, the general tenor favors higher BTC prices.
Related: Ethereum analysts see ‘further upside’ as ETH price reclaims $3.6K
Novogratz conceded a drastic change in policy could alter the outlook. He stressed, “That would change my thesis,” though added “until that happens, I think we’re heading to 150,” interpreting the chart patterns.
Magazine: Robinhood’s tokenized stocks have stirred up a legal hornet’s nest
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
