Opinion: ETH Resembles the "iPhone Platform" and May Follow BTC to Rise to $8,000–$10,000

According to ChainCatcher, citing a report from Decrypt, Greg Magadini, Director of Derivatives at Amberdata, stated that Bitcoin now resembles a hybrid of digital gold and a risk asset. In the current environment, where the stock market is rising and the Federal Reserve faces pressure to cut interest rates, Bitcoin is being driven by both sentiments simultaneously.

Although some people describe Ethereum as outdated technology, Ethereum boasts a developer ecosystem similar to the iPhone platform, allowing developers to build applications directly on its infrastructure. These network effects will only continue to accumulate, so it is expected that Ethereum’s price will keep following Bitcoin’s upward trend, with the potential to reach the $8,000 to $10,000 range.