In 2021, Ethereum will Attract Institutional Investment Just like Bitcoin
Ryan Watkins of Messari expects the Ethereum price to soar in 2021 as institutions flow to the second most valuable asset, just like they did to Bitcoin in 2020. Already, he explains, the writing is on the wall. With such tailwinds, the ETH price can soar past critical resistance levels, including $750 and $1k.
Analysts are overly bullish on Ethereum as a network and a digital asset attractive to investors. At the time of writing (Dec 30), the coin is trading at a two-year high, breaking above $700 with more room for more upsides in the coming days. Next year in February, the CME Ethereum Futures will launch. It will allow institutional-grade investors to allocate some of their funds to a regulated crypto derivative. Additional comments from Grayscale executive--and assessment from some technical analysts, could buoy ETH/USD above stubborn sell walls in 2021 is elevated, an opportunity for savvy investors.
Impact on the ETH Price:
Bullish. For years, the absence of institutional investors was pinned to the sphere's high volatility and dismal liquidity. However, the shift in 2020 could continue in 2021 as performant platforms receive a share of billions from institutions eager to tap into lucrative crypto gains.
More market updates on our Blog