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Date:
23rd Dec 2020
Author:
CryptoAltum Research Team

ETH at Sub-$600 Will Be A Steal, $800 Is Coming


A crypto trader is confident the ETH/USD price will rally to $800, and that buying below $600 is a steal. His comments can at a time when Ethereum prices have been shrinking, cooling off after rallying to around $670 early this week. He also joins a list of traders predicting ETH prices to hit $1k and even $10k in 2021.


Details: 

Ethereum has many faces and traders are optimistic about its prospects. While prices cool down, even at spot rates, the coin is up over 4X from Jan 1, 2020 prices. More upsides are expected in Ethereum considering analyst's confidence stemming mostly from increasing adoption levels as well as on-chain developments, including ETH. Furthermore, Grayscale—despite temporarily halting the purchase of ETH and most trusts, have observed an influx of investors preferring Ethereum to Bitcoin in recent times. Other analysts including Anthony Sassano—describing himself as an Ethereum maximalist, predicts prices to rally to $10k.


Impact on the ETH Price: 

Neutral. In the immediate term, the Ethereum price is bearish. However, if bulls drive prices above $700, it could open up the digital asset to $1 or even $1.4k—the all-time high.


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