The price of Ethereum may get as low as $250, while the bitcoin price may go up to $50,000. What else do analysts say?
ETH is at risk of getting 50% cheaper
Cane Island analyst Timothy Peterson thinks that Ethereum will lose at least half its price in the next 12 months.
He points out that the price of the cryptocurrency at the moment is about twice as big as its “real” price calculated on the basis of the network value. Judging by this model, the price of Ethereum should rise only 30% per year.
The average weighted ETH exchange rate is $406 now, it must go down to the range of $200–250 according to the prognosis.
Tone Vays: the BTC price will not go below $10,000 this year
Well-known crypto enthusiast Tone Vays worded his opinion that the bitcoin price would not get below $10,000 this year.
He also added that he expected breaking the level of $20,000 in 2021 although we had doubted that earlier.
“In the beginning of the year, I thought that even next year would be a struggle to break $20k. Now I think it’s pretty likely that we’ll break $20k next year”, the analyst said.
According to him, the price doubles the target during each next breakthrough. So after breaking through the level of $20,000, the bitcoin price may rise up to $45,000–50,000.
The bitcoin price will fly up to $20,000 in two months
Analyst Bitcoin Jack thinks. He noted an interesting regularity: the bitcoin price follows the moves of the gold price, but with some delay.
The analyst points out that at the moment the BTC price is at the same point where gold was in July. If the trend persists, the cryptocurrency price will go up to $17,000-$19,000 in September, then it will get corrected to the zone of $15,000, and after that it will go to the point of $20,000.
Bitcoin Jack supposes that, after testing the historic high in October, the price will quickly go down to the levels of $11,000–12,000.
The trader emphasizes that the growth should already start in the nearest days.