This website uses cookies to ensure you get the best experience on our website
Join us on Telegram for FREE daily market updates!

Blog

Date:
21st Jan 2021
Author:
CryptoAltum Research Team

ETH/USD to Reach $10.5k Say Fundstrat Strategist

A Fundstrat Global Advisors LLC strategist, David Grider, predicts the ETH/USD to reach $10.5k, a day after the second most valuable digital asset rose to a new all-time high. According to the strategist, the increasing popularity of decentralized finance applications (DeFi) would be rocket fuel, thrusting the digital asset to a record high. In his assessment, he says, ETH offers the best risk/reward investment play in crypto—better than gold, further adding that blockchain computing, a solution offered by most distributed ledger technologies, will be the future of cloud.


Details: 

The Ethereum price is trading at $1.3k, retracing after surging to a new all-time high above $1.4k. Behind the recent surge of ETH are positive developments. One of them is interest in DeFi, a movement that blasts open finance, democratizing finance, allowing trustless investment regardless of qualifications. All this is done digitally and without credit checks. The second is the transition of Ethereum to ETH 2, a new blockchain that will eventually integrate sharding and other scaling solutions, further enhancing DeFi and Ethereum as it drastically slashes transaction fees.


Impact on the ETH Price: 

Bullish. David joins a long list of analysts who are overly confident of Ethereum in the medium term. In their view, ETH, at spot rates, is under-valued. The coin's upsides are due to its high level of utility and the network's creators' decisions to make the user experience seamless.


More market news over on our Blog


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020