Ethereum Price Likely to More than Double in the Next Few Months
While the Bitcoin price rallies, analysts are convinced Ethereum could pull a "BTC" by more than doubling in the next few months. There are similarities between this year's rally and that of late 2017. Coincidentally, ETH prices were trading at around $500 in early Dec on both occasions before ETH snapped, rallying to over $1.4k in early Jan 2018.
Buoyed by solid fundamentals, including a huge milestone to finally rectify errors of Eth1, the Ethereum price is said to be undervalued by most analysts. While ETH and BTC prices are positively correlated, Ethereans are keen to push prices higher to above $700. It is less than half the journey back to the coin's all-time high, meaning if analysts' projections hold, there could be room for more upside in the coming months.
Impact on the ETH Price:
Bullish. While a contrarian move might print and ETH—inclusive of other altcoins fall, that the early stage of Eth2 is live and stakers are locking up their assets in the network suggests confidence not only on the dominant platform but on the native currency, ETH.
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