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

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

Image source: Shutterstock / Facsimile/CNBC

Tim Haldorsson

tim.haldorsson@trijo.co

Ethereum can soar up to $1,900 by the end of the year, according to crypto expert Tom Lee.

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.

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.

Follow Trijo News on FacebookTwitter and Telegram.

Keep up with the latest news

Read more