It’s a new day and things are looking quite fantastic on the markets this morning. Perhaps it’s something to do with the lovely weather.
Or, more likely, this could be the start of the next bull run which experts did predict could occur towards the end of this week.
Ethereum is standing out as a strong currency this morning, at the time of writing, Ethereum is valued at $532.86, and is up 4.06%. It is heading on a trajectory towards $600, if we are about to see another bull run, then it could quite easily hit $600. Whether this is today or tomorrow however, we will have to wait and see.
During the cryptocurrency boom, leaving 2017 and in to the start of 2018, we saw Ethereum reach heights of around $1,300, somewhat higher than the values we are seeing now.
Is it ever going to breach that high again?
Potentially. Of course, it does depend on a lot of different things. For this to happen we need to see some huge market surges, surges on a similar scale to what we saw at the end of last year. It’s a very difficult task for Ethereum but I think it’s important to consider that it’s not entirely impossible at this point.
What is the outlook for Ethereum?
Overall, Ethereum has had quite a slow April. The first few weeks saw Ethereum teeter around the $300 mark, far from impressive. This was of course in the wake of the February and March depression which saw the entire market on the whole take a rather drastic plunge. As April went on, Ethereum started to make some ground, in good time for the mid-April market surge, which took place just a week ago.
The surge, saw Ethereum rack up an additional $200 in a matter of minutes, therefore, this suggests that should another surge happen over the weekend, as predicted, Ethereum can meet $600 with ease. Many would like to think that actually, $800 is a more realistic target for Ethereum now, should a surge take place.
Of course, there is no guarantee that we will see a big market surge take place this week. Expert predictions are only that, predictions and whilst they may be based on statistics, you can’t ever be 100% sure of the behaviour of cryptocurrency markets. Therefore, this is not an investment hint that Ethereum will reach $600 today what we are highlighting however is that, due to Ethereum’s ability to take in value quickly, if the climate is right and another surge happens, expect to see Ethereum breach the $600 mark and continue on, possibly towards $800, edging ever closer to its former glory.