Two Catalysts Could Fuel Ethereum Explosion to $10,000, According to Coin Bureau
Coin Bureau crypto analyst Guy Turner says there are certain catalysts that could push Ethereum (ETH) to $10,000 in the next bull market.
In a new live stream discussion, Turner says that a “killer app” that changes the game in crypto could be what sparks a big Ethereum rally to a five-figure mark.
“I think for the sort of wider crypto market beyond Bitcoin and Ethereum, something like a killer app. People ask me what that killer app is going to be, and I always say, if I knew, I’d be off building it. So I really have no idea but I think… We’re so close to the beginning of the journey in what crypto can do and what the people working in crypto are capable of doing. So I think we could see a killer app come and really supercharge one particular sector, maybe something like GameFi or – dare I say it? – the metaverse.”
However, the analyst also says that something less exciting could also act as a catalyst for crypto. He suggests that the rollout of a new central bank digital currency (CBDC) from a major country could also push people into adopting crypto.
“I think perhaps another catalyst for a bull market could be something more mundane. I think it could be something like CBDCs getting rolled out…
I think all it would really take is a big economy rolling out a CBDC, rolling out one of these central bank currencies and it having kind of insane limitations on how much you can spend or where you can spend it and people just certainly seeing it because it’s all very well people like us talking about it…
They’ll make them seem convenient, but they won’t be good… So I do wonder whether we could see something like that and people going, ‘You know what, I need to get to something that isn’t this. I need to get into Bitcoin.’”