Is Ethereum About To Stage A Trend Reversal?

Published 5 years ago on September 28, 2018

Is Ethereum About To Stage A Trend Reversal?

Ethereum is a struggling cryptocurrency. Plagued by a clogged network and low prices, it’s rare to find experts with a super bullish feeling towards Ethereum. Fundstradt superstar Thomas Lee however is one expert that believes Ethereum, despite it’s fall, is now on the brink of a major bull run, one that promises to send Ethereum back to the moon,At the time of writing, Ethereum is valued at $229.99 and is up 7.18% from yesterday. This sudden climb is as a result of a positive market climate that is pulling the markets upwards. Whilst it looks positive now, we don’t expect this climb to continue through the weekend, correction is sure to come into play before long.Lee believes that a recent Ethereum sell off has pushed Ethereum down to its current low price. As a result of this, Ethereum is now set to attract an awful lot of investment from investors who are willing to buy in at this low price. With Ethereum losing half of its value in just three months, many could argue that now presents the perfect buying opportunity. Now remember, if you do wish to purchase Ethereum, do your own prior research before investing. It’s a volatile business, one is at best, entirely unpredictable. Only invest what you can afford to lose.According to CoinGape, Lee has said:

“Ethereum is about to stage a trend reversal and rally strongly, sentiment is currently overly negative.”

Furthermore:

“Lee also noted that Historically, when Ether has underperformed peers by two standard deviations, it has reversed those losses. He expects the token to reach $1,900 by the end of the year. Lee has been fairly bullish about cryptocurrencies despite the huge sell-off the coins and tokens have seen since the start of 2018. Apart from Ethereum, Lee has a $25,000 price target on Bitcoin, which is currently worth about a quarter of that.”

Is Lee right?We can’t know is Ethereum will peak at $1,900.00. We do know that at present, Ethereum is sat at a very low price, meaning Lee is probably right about Ethereum attracting new investment. Overall though, we can’t tell if this will have a major impact on it’s value. Indeed, Ethereum could fly off the back of a mass buy in. $1,9000.00 is an especially optimistic prediction and would require a huge amount of investor interest.I suppose as the saying goes though, never say never?References CoinGape

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Adrian Barkley

Adrian is an avid reader who first stumbled across Crypto after reading 'The Basics of Bitcoins and Blockchains' by Antony Lewis in 2018. Since then, Adrian has immersed himself within the industry, and has a real interest in Enterprise Blockchain solutions.