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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 will follow Bitcoin's lead - expert opinion
Tanya AbrosimovaTanya AbrosimovaIndependent Analyst


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


 

Author

Tanya Abrosimova

Tanya Abrosimova

Independent Analyst

 

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