Ether (ETH) Is Most Wanted Digital Asset right now according to analysts and traders. Arthur Hayes, co-founder and CEO of BitMEX (cryptocurrency trading platform) in the Seychelles wholeheartedly agrees that it’s Ether’s time to shine.
Hayes was quoted saying:
“It’s The Ether Show. Traders are profit taking on Ripple, and now rotating to another altcoin”
A digital currency trader, Marius Rupysus offered a similar sentiment:
“Ethereum is now getting the attention and speculators are exiting other cryptocurrencies to buy the best looking asset now”
According to Tim Enneking, managing director of Crypto Asset Management:
“Traders have been rotating out of BTC for a while. Now they are definitely rotating out of Ripple into ether (ETH)”
CEO of 360 Blockchain USA’s Jeff Koyen describes the move from other crypto currencies to ether (ETH) as:
Koyen says that investors aren’t taking money out of the market for fiat and emphasises how this development is doing the crypto market good as a whole.
Koyen was quoted saying:
“This is Ether’s moment in the sun and it’s interesting to see Bitcoin stay flat while air comes out of Ripple”
Bitcoin prise surges are making news but ether is set to hit all time high of $2,500 by the end of 2018 – as per deVere consultancy predictions:
“The price of Ethereum is predicted to increase significantly this year and could hit $2,500 by the end of 2018, with a further increase by 2019 and 2020”
The bulls will need to break through the ETH/USD pair to over $745 – and then only can target of $1,130 be reached, according to CoinTelegraph. There may be resistance at $900 and $1,000, but a break through these levels is expected.
A few factors that may influence the price of ETH this year is the “proof of stake” algorithm – Casper will be up and running within few months making Ethereum one of the most scalable networks worldwide. One other factor is possible plan by South Korea to legalise Ether.
Will Bitcoin bulls break through $10,000?