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Ethereum (ETH) Still Following $300 Plan Despite Price Drop: Analyst Michael van de Poppe

News
Fri, 06/12/2020 - 10:44
Vladislav Sopov
Ethereum (ETH) bulls might have been confused by the recent 8% price decline. But a top cryptocurrency analyst believes there's nothing to worry about
Ethereum (ETH) Still Following $300 Plan Despite Price Drop: Analyst Michael van de Poppe
Cover image via www.instagram.com
Contents

Seasoned cryptocurrency trader and analyst Michael van de Poppe has updated his recent chart that predicted that the Ethereum (ETH) price would surge above $300 in August, 2020.

Structure looks fine

According to his evaluation, this painful drop on June 10th-11th, 2020 won't affect the overall bullish trend of the Ethereum (ETH) price. Recently, it plunged to $226 on some spot exchanges after two attempts at conquering the $250 level.

Michael van de Poppe
Image via Twitter

As revealed by this updated chart, the vulnerable territory for bulls starts between $210 and $220. So, this drop is no more than a predicted correction before the next series of upsurges. And the $250 level still remains the next target for price movement.

After $250, there is one more crucial level of bearish pressure. It is near $280 and it is here where another correction may put some water in bulls' wine.

Then, the upmove of the second cryptocurrency likely won't meet any resistance on its road to new yearly highs above $300.

Too many catalysts

Mr. van de Poppe published this chart for the first time one week ago, on June 7th, 2020. He highlighted that sub-$220 zones look comfortable for longs to be opened.

His bullish prediction resonated perfectly with a couple of mid-term evaluations that foresee a bright future for Ethereum (ETH) bulls.

For instance, global macro investor Dan Tapiero, founder of Gold Bullion International fund claims that we are on the verge of an explosive upmove for Ethereum (ETH) prices. The rapid technological progress of both Ethereum (ETH) and Ethereum-based products is the main catalyst behind this action.

Also, the euphoria around Grayscale Ethereum Trust Stocks (ETHE) refuses to reside. Wall Street Investors are buying Ethereum (ETH) stocks with an almost four-digit premium.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)