Crypto expert: Ethereum can rally to $1,900 by the end of the year

Today, ethereum is the second biggest cryptocurrency in the world. At the time of writing, the price of an ether is $230, which can be compared to earlier this year when the price of the cryptocurrency was over $1,400, according to Coinmarketcap.

Tom Lee, head of strategy and market research at the investment advisory firm Fundstrat, writes in a newsletter to its clients that the price of ethereum can rally to $1,900 by the end of the year, Bloomberg reports.

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The price needs to rise 726 percent

In 2018, the price of ethereum has fallen over 80 percent and the cryptocurrency has seen a strong downward trend. Now, it might be time for a strong bounce back for the cryptocurrency, atleast if one gets to believe Tom Lee.

“Ethereum is about to stage a trend reversal and rally strongly”, says Tom Lee.

From today’s price of $230, ethereum needs to soar 726 percent to reach $1900.

Another prediction of Tom Lee that has gotten attention in the crypto space is that a bitcoin will cost around $25 000 by the end of 2018, Bloomberg reports.

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