The price of Ether - the second largest cryptocurrency, took a giant leap today, climbing over $ 700 per coin. The ETH rate has not been so high in about two years. Will the coming year be positive for the entire project? Here are the latest Ethereum predictions and opinions!
The most important information:
- According to Ryan Watkins (analyst from Messari) in 2021 institutional investors will start buying ETH
- Popular cryptocurrency trader - Scott Melker presented a pattern of a higher peak in the Ether chart, claiming that it is a "stairway to heaven"
- Market Analyst - Michaël van de Poppe expects ETH Price Will Set New ATH In Q1 Next Year
Ryan Watkins: Institutions Will Buy ETH
While Bitcoin was in the limelight in 2020, according to an analyst from the Messari platform, 2021 may be Ether. In the opinion of Ryan Watkins, institutional investors will be interested in the second largest cryptocurrency, which will translate into an increase in its price.
The man referred to a statement issued by the world's largest derivatives exchange - CME Group, in which the latter announced that it would launch ETH futures on February 8.
Scott Melker and his "stairway to heaven" formula
A popular cryptocurrency trader - Scott Melker presented a chart where we can see a pattern of a higher peak.
The price of Ether has been rising since last week, creating an "endless series of higher highs and higher lows." This analyst described the pattern shown as "stairs to heaven". Thus, he concluded that Ether has the potential for further growth.
Michaël van de Poppe is expecting a new ATH in early 2021
According to Michaël van de Poppe, the ETH rate may exceed its current highest level in the first quarter of next year. The investor also cited the same pattern as Scott Melker, stressing that "Ether consistently hits higher highs and higher lows."
He added that as long as the price of this cryptocurrency remains above $ 470, it may reach $ 1,200-1,300 or establish a new ATH in early 2021.
ETH Chart - Information Summary
Currently, this cryptocurrency is trading around $ 739.03 per coin, although it has made great progress, it is still a long way to a historic peak, the Ether rate is only halfway there.
This year's highest level on ETH is USD 742.80 - according to averaged data from CoinMarketCap. Looking at the statistics from assetdash.com, we can see that Ethereum is ranked 122nd among the assets with the largest market capitalization. This project overtook, for example, the well-known car manufacturer - BMW, or the provider of streaming and multimedia services - Spotify.