Ethereum (ETH) will see a major change in pricing dynamics and the present rally, which will increase the rate to $1900 by the end of 2019. So says renowned cryptocurrency analyst on wall street, Agency co-founder of Fundstrat Global Advisors Tom Lee (Tom Lee).
Lee notes that at the moment the mood regarding Ethereum is very negative, but they can be the basis for future strong recovery. Making the forecast, the analyst relies on past performance of price movements of the cryptocurrency means that when Ethereum has lagged behind other currencies in the two standard deviations, the course changed direction.
Considering this fact, Lee believes that the cost of the main alithina will reach $1900 by the end of 2019. This figure is 40% above the record — $1349, which showed the rate of Ethereum 13 Jan 2018. Today the price of bitcoin is hovering around $225, according to CoinMarketCap. This means that by the end of next year she should grow to 726% in order to meet the expectations of the analyst.
In August, Lee also spoke optimistically regarding the growth rate of bitcoin (BTC). The expert predicts that the value of the main cryptocurrencies will reach $20,000 at the end of the year. This can result in the growing popularity of hedge funds and the rise of emerging markets — at the end of 2017 was a correlation between the growth of companies in such markets and the appreciation of bitcoins.
The Ethereum network started working on July 30 2015. Today allcoin is the second largest market cap among digital currencies. Platform allows you to create a decentralized smart contracts, and for this reason are used a large number of organizations for a variety of tasks.
After experiencing peak prices in the beginning of the year, Ethereum is rapidly lost ground and was still not showing new growth. Also during September, the crypto currency Ripple (XRP) is twice ahead of live in terms of market capitalization. Experts have linked this with the expected launch of the platform xRapid. Now Ethereum regained its usual second place and ahead of XRP nearly $2 billion.