Analysis: Ethereum is set to experience a record short squeeze, reaching $4000 "very soon".
BlockBeats reported that on July 19, The Kobeissi Letter stated in its latest analysis released on Friday that ETH/USD is likely to reach $4000 soon. Ethereum is currently brewing a rare short squeeze in crypto history. If the price rises another 10%, $1 billion worth of short positions will be liquidated. The liquidation of short positions could drive the ETH price to rebound to $4000. The current price of Ethereum is $3553, and its recent price movement has been described as "making history"; the rise of ETH has triggered a record short squeeze. Kobeissi noted that as the largest altcoin by market capitalization, Ethereum is "punishing" shorts at an extremely rare pace.
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