Ethereum records a new record high

Naeem Aslam Zaye Capital Markets

Cryptos

In terms of cryptos, Ethereum prices started to skyrocket yesterday and crossed above the 1,500 price level for the first time. We talked about ETH crossing above the 1,500 price before as well. There is enormous support for Ethereum and there is no doubt Ethereum is the next internet.

During the massive Bitcoin run, we did not see any major rally for Ethereum prices. ETH only recovered its losses and went slightly above the previous high. However, a new bull trend has started, and the immediate near term target is $2,000. There may not be any surprise if ETH prices actually double from their current level. However, for this to take place, we must see another bull run in Bitcoin price as well.

Author

Naeem Aslam

Zaye Capital Markets

Based in London, Naeem Aslam is the co-founder of CompareBroker.io and is well-known on financial TV with regular contributions on Bloomberg, CNBC, BBC, Fox Business, France24, Sky News, Al Jazeera and many other tier-one media across the globe.

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