Ethereum Rate Could Reach $ 790 By Year-end
Several cryptocurrency analysts have expressed the opinion that the Ethereum rate is very underestimated, and by the end of the year, it can grow significantly.
Since May 10, Ethereum, the second cryptocurrency by market capitalization, has been trading in the range of $ 180 to $ 200. Crypto-investor and founder of Mythos Capital, Ryan Adams, says that ETH is still undervalued and is trading at half the rate than would be expected.
Traders Opinion about Ethereum Rate
A trader with the nickname Wolf published a chart indicating the growth potential of Ethereum almost four times – up to $ 790 by the end of 2020. He noted that in January the cost of the second cryptocurrency reached $ 130, and since then the ETH exchange rate has been constantly growing. In another post on Twitter, the analyst predicted that the Ethereum, which since May 10 has been trading in the corridor from $ 180 to $ 200, will cost $ 490 by September.
— Wolf (@IamCryptoWolf) May 25, 2020
“I think that by the end of 2020, ETH will reach $ 790.”
Ethereum Jack analyst decided to show a closer target and tweeted that the ETH / BTC pair will grow by about 50% by the end of June and will reach the level of 0.035 BTC:
I think $ETHBTC is going to 0.0350 by end of June
— //Ethereum 𝕵ack 🐐 (@BTC_JackSparrow) May 25, 2020
A similar opinion is shared by cryptocurrency investor and founder of Mythos Capital, Ryan Adams. He stressed that at the moment the ETH is greatly underestimated. Because the use of the Ethereum network is at record highs and the ETH rate is also time to grow. As soon as the price “catches up to this level”, it will turn into a means of accumulating value, like bitcoin:
It’s not 2017. We’re not in a bull market
But Ethereum usage is already at all-time-highs
It won't last
First ETH price will catch up with Ethereum usage
Then ETH price will catch up with ETH as a store-of-value
ETH is doubly undervaluedhttps://t.co/qLgHgrftCr
— Ryan Sean Adams – rsa.eth 🏴 (@RyanSAdams) May 25, 2020
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