Cryptocurrency

Ethereum and the all-time high at 1,450 USD

Ethereum is the second most important crypto-currency in the entire Crypto-sphere. With a market capitalization of almost USD 30 billion ETH is still far behind Bitcoin, with a market capitalization of approximately 175 billion USD, but far ahead of the number 3 Tether with less than 10 billion USD. The importance and the influence of Ethereum is also underlined by the fact, when you consider how many other Coins would not exist without the ERC-20 function in the case of ETH and the possibilities for DeFi. While our Head of Content Daniel answered in his yesterday’s article, the question is whether ETH could be perhaps undervalued, is one of the most famous traders in the Crypto area because of a very different opinion. According to him, the Asset will no longer see its previous all-time high from the year 2017. Is justified in his opinion, really?

Top Trader is not positive on Ethereum

The Ethereum course has performed in the last few days, in the meantime, very well. The popular crypto-currency rose during the trading day on Wednesday within five minutes of 8%. Also on Thursday, the ETH underwent a rapid short-term increase of 265 to 280 USD.

These small recent Pumps have some convinced that the ETH is on the verge of a macro-economic Bullruns, which will bring the asset value to new highs.

When it comes to “Joe007” on Bitfinex as one of the best traders in the Crypto area is known, this bullish assessment Ethereum wrong. In a comment on Twitter, from 21. July predicts the Trader that ETH will never again reach its all-time high.

I doubt very much that ETH/BCH, etc. return again to their ATHs. Even if Shitcoins are not extinct due to human stupidity, will lead the new wave of stupid money is more likely in newer and shinier fraud as in the old, tired, ETH – or Forkcoin scams.

A reminder: the previous all-time high of Ethereum was achieved at 1,450 USD, which corresponds to a 450% increase of current rates from. While the circumstances appears to be for Crypto-is possible, the Reach of the old ATHs still in the distance for ETH.

Some time ago Joe007 Decentralized Finance (DeFi), which applications are running currently, the majority of on Ethereum has referred to as the “Marketing Trick” that creates little fundamental value. At this point it should perhaps be mentioned that the Top Trader is a great enemy of Altcoins in General, including, finally, the ETH is one.

The opinion of other experts

The opinion of Joe007 is admittedly extreme, because that would imply that the future for Ethereum looks very bleak and ETH would be almost doomed to Failure. Maybe there are just that is why some experts who share his opinion, but also such that contradict it.

So Avi Felman block tower Capital expressed in the past similar to critical to the Ethereum course:

The ETH at all times, a distraction is highly likely to maneuver and was driven by a certain dynamic (purchase of ETH, to place it in ICOs, no sales pressure, because the ICO treasure chambers have not thought of it).

Completely disagree with Joseph Todaro, a Managing Partner at the block, town Capital, said in June is here:

In the year 2017, the ICOs ETH also helped a market capitalization of $ 100 billion. In this next cycle Defi will probably bring to ETH Zurich contribute to a market capitalization of 1 trillion dollars.

It remains unclear, of course, continue to be, who is retained in the Case of “Ethereum” right. Nevertheless, it is very unlikely that the current number 2 is sentenced behind Bitcoin so quickly to Failure. Just the last few days have shown, finally, what is the Potential of Ethereum course offers in the short term.

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The comments in this article do not represent any trading recommendations or investment advice.

About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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