The value of the largest altcoin by capitalization reached $1440. Experts told how it will change in the near future and whether it will repeat the Bitcoin scenarioю
On the afternoon of January 19, the Ethereum rate renewed its all-time high, reaching $1440, after which the coin was near the $1400 level. The last wave of growth in the value of the cryptocurrency began on January 11 with a local minimum of about $900. Such a drawdown could become a “recharge” for an asset, the price of which could move further without reference points in the form of long-term highs.
On January 19, it became known that Ethereum bypassed Bitcoin in terms of daily trading volume. In the altcoin network, transactions were made for $12 billion, which is $3 billion more than the main cryptocurrency. The data provided does not include transactions and other transactions on decentralized exchanges.
Historical price of the Etherium
In the near future, a rollback of the Ethereum rate or its consolidation at about $1400 is possible. At the same time, in the long term, an increase in the value of both ether and bitcoin may happen.
Ethereum is now growing on the positive from the launch of Ethereum futures on the Chicago Mercantile Exchange (CME). But it will rise in price exactly before the launch, scheduled for February 8, after which the price will begin to decline.
What do the experts think?
The experts believe that short positions will be opened against the ether on CME, which will negatively affect the price of the altcoin. The cryptocurrency may return to growth approximately three months after the start of the February correction. The rate of recovery of quotes will depend on the success of the Ethereum 2.0 update.
Earlier, the managing partner of the Moonrool Capital fund Simon Dedich predicted that the value of Ethereum would double after it hit its all-time high. According to Dedich, the asset price can skyrocket to $3,000. Financial analyst at currency.com Mikhail Karkhalev agreed that Ethereum has a chance to rise in price to $2,500-3,000 during 2021. The founder of the information portal Nugget's News, Alex Saunders, added that in the long term, Ethereum could rise in price to $5,000, $10,000 and even $20,000.
