Ethereum will follow Bitcoin's lead - expert opinion

  • 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.

ETH/USD, the daily chart


 

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.