Tanya Abrosimova
Independent Analyst
- ETH/USD will recover to $140.00 by the year-end.
- The coin is rangebound with a bearish bias.
Ethereum has had a tough year as the coin has lost nearly 94% of its value since the peak reached on January 13 and retreated from the second place in the cryptocurrency rating. However, some experts believe that not all is lost as ETH may regain some ground by the end of the year.
According to the polls, carried out by Finder.com, on average, experts wait for recovery towards $140.00 by January 1, 201, which equates to an increase of 37% from the current price. Many analysts stress the coin's dependence on Bitcoin dynamics.
“It is all on Bitcoin, isn’t it? If it rallies, so does the rest of the pack. Of the top five, Ethereum is most dependent on BTC’s performance (after Bitcoin Cash). And while I am hoping Casper changes all that, it’s not there yet,” Alisa Gas from Wishknish says.
She expects to see ETH/USD at $140 by the year-end.
The most optimistic prediction comes from Rouge Ventures founder Desmond Marshall, he expects to see ETH at $250, which is nearly 300% increase against the current price.
ETH/USD is changing hands at $89.57. The coin has lost about 1.5% in the recent 24 hours, moving in sync with other digital assets. The coin remains under pressure as long as the market is dominated by bearish sentiments.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks
Ripple's XRP breaks out of downtrend as RLUSD receives greenlight from New York regulators
Ripple's CEO Brad Garlinghouse announced on Tuesday that the company received a green light from the New York Department of Financial Services on the launch of its stablecoin RLUSD.
Could Google's supercomputer crack Bitcoin? Crypto community maintains positive outlook
Bitcoin faced mixed sentiments on Tuesday after crypto community members spoke on the potential of Google's new quantum chip Willow's ability to crack blockchain networks and render the security of public key cryptography useless.
Crypto Today: Microsoft Rejects Bitcoin Reserve Plan, as Cardano, XRP Lead Market Rebound
Amid an escalating geopolitical crisis, the global crypto market crash on Monday saw over $1.5 billion worth of liquidations, triggering double-digit losses across top-ranked digital assets.
Litecoin Price Prediction: LTC to hold $100 support as traders deploy $10M of leverage
Litecoin price broke below the $110 level on Tuesday, down 20% in a frenetic 24 hours as rising geopolitical risks triggered volatility across global crypto markets.
Bitcoin: Long-awaited $100K milestone meets profit taking
Bitcoin ends the working week hovering around $98,000 after a very volatile Thursday when it surpassed the $100K milestone and underwent a sharp correction. Strong institutional demand, whale accumulation, and the choice of a pro-crypto figure to lead the US SEC fueled the rally this week.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.