In today’s Ethereum news, Tom Lee argues that the second largest cryptocurrency Ethereum is about to see a strong upwards rally up to $1,900 per token by the end of next year.
Lee stated that the current negative sentiment on the entire crypto market is a base for the strong rebound in the near future. He based his prediction on the historical performance of Ethereum where he shows all of the times when the altcoin ‘’underperformed’’ and the price saw a reverse motion.
He believes that Ethereum will reach up to ,900 by the end of 2019 and that this is a price point that is 40% higher than Ethereum’s all-time high recorded in January this year when Ethereum’s price was ,349.
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Right now, the price of Ethereum is $225 so the prediction is basically a surge by 730 percent by the end of the year.
In the middle of the summer, Lee claimed that the Bitcoin might come to trading between $22,000 and $25,000 but right after that he concluded that Bitcoin could finish this year much higher than he expected.
Ethereum was launched in 2015 as the second largest cryptocurrency by market cap and it provides an open-source blockchain that offers smart contracts but it’s also a base for new blockchain-powered applications for many industries. This year, Ethereum saw a massive decline where Ripple has surpassed it twice in terms of market cap just this month.
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