Ethereum At $1,000: Is it Possible
In daily charts, Bitcoin is targeting to new highs, and it comes out a question, “Can Ethereum reach $1,000?”
After the second cryptocurrency hit an all-time high of $522 on Nov. 29, it retreated, and today is trading at about $530. Still, that’s a gain of more than 5,900% since Jan. 1 – well above Bitcoin’s gains of 1,600%.
The major lesson, that showed last year, is that you can never assume a cryptocurrency has peaked.
Both cryptocurrencies surpassed price predictions, which had made experts from the start of the year. The other cryptocurrencies have the same history too.
This year many analysts have been forced with the matter to reconsider their Bitcoin and Ethereum price forecasts. But there is one charting tool, which are using technical analysts, and it is proven to be extremely useful at predicting cryptocurrency price movements. The question is about Fibonacci charts, which is tell us that an Ethereum price of $1,000 is definitely on the horizon…
So the real question isn’t can Ethereum reach $1,000, but when Ethereum reaches $1,000.
A key concept which may push Ethereum toward US$1,000 and beyond is the smart contract. Though they’re of great interest to developers, there are a fair few issues with smart contracts these days. Several projects were launched recently to focus on that particular issue, though, which can only be considered a good thing.
It is obvious, that Ethereum has a lot of potential. It will take time and a lot of efforts to realize that. Next year may be too soon to see the ETH price hit four figures. It all depends on whether Ethereum can hold its own against Bitcoin, which is a pretty steep challenge right now.