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Blog

Date:
31st Dec 2020
Author:
CryptoAltum Research Team

Analyst: Buying ETH Below $1k is like Buying BTC at Sub $10k 


As the US prepares to air-drop another $2k, another analyst has once again declared that buying ETH below $1k is like buying Bitcoin when it was below $10k. The price of the digital gold has since more than doubled, soaring to a new high while several analysts are confident that ETH/USD, at spot rates, is undervalued. 


Details: 

With the launch of Ethereum futures at the CME, DeFi, and smooth implementation of Eth2 together with an influx of institutions to crypto with most considering ETH, Ethereum prices may rise above $1k and even clear its all-time high of $1.4k in 2021. The stability of the platform plus gradual improvement of the source code are all the ingredients required to prime buyers who are angling for $1k in the short-term but looking to correct the diverging correlation with BTC--an asset that’s already at a new all-time high. Once ETH bulls clear $1k, some analysts are confident that it would easily double to $2k.


Impact on the ETH Price: 

Bullish. Comments from analysts about ETH/USD prospects are overly bullish for the asset, a foundation for a moonshot above 2020 highs.


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