Ethereum to $8K? Eric Trump Says It’s Possible

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Ether’s bullish outlook strengthens as Bitcoin dominance falls below 60%, its lowest since February.

Analysts say Ether is undervalued and should be above $8,000, as global M2 money supply hits a record $95.58 trillion.

A falling Bitcoin dominance adds fuel for ETH bulls, with Bitcoin’s market share dropping 8.5% since June 27.

Analysts say Ether is undervalued and “should be trading above $8,000” as global liquidity, measured by broad money supply (M2), hit a new record high of $95.58 trillion on Friday.

ETH price following M2 breakout
Global liquidity supply, or M2, aggregates US dollar-adjusted liquidity from major economies including the US, eurozone, Japan, the UK and Canada. 

A rising M2 implies that more money is circulating in the economy, including in bank accounts, checking deposits and other liquid assets. Such surplus liquidity can increase capital inflow into riskier assets like crypto.


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