Analyst: Ethereum (ETH) Could Hit $200 Very Soon, But There’s A Catch - Today's Gazette - Cryptocurrency, Bitcoin News
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Analyst: Ethereum (ETH) Could Hit $200 Very Soon, But There’s A Catch

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Analyst: Ethereum (ETH) Could Hit $200 Very Soon, But There’s A Catch

The crypto market is currently green, but one popular crypto analyst is more interested in Ethereum. According to DonAlt, Ethereum could soon see a significant price shift that could put it up to around $200 in value.

From his twitter post, DonAlt says that he started investing in ETH at around $100 per piece because he believes the crypto will soon be worth $200.

Dropping To $90

However, the analyst also believes that Ethereum might have to drop down to around $90 before it can skyrocket to reach his dream price of $200, although that statement might seem a little unsettling especially considering that the crypto market is currently turning green and Ethereum is one of the big gainers.

At the time of this writing, ETH is trading at a cool $118.62, having experienced a 13.1% price increase over the last 24 hours. XRP has gained by 5.4% while Bitcoin increased by 7.2%. The 3 top cryptos haven’t changed positions.

Bitcoin still stands at the top, followed by XRP and Ethereum at second and third places respectively.

Bitcoin (BTC) To Play A Major Role

It’s a fact that there have been a lot of people coming out to speak positively about the future of Ethereum and its expected price surge, but there’s a catch. First off, most investors look at Bitcoin’s stability before throwing their money on other cryptos because Bitcoin, being the top crypto, affects the market standings of most other coins.

That said, Bitcoin might have to experience a stable price surge before Ethereum can actually attain a nonvolatile price increase in the near future.

That way, investor confidence would be boosted and people would be more prone to entering long positions in Ethereum. On the flip side, that scenario seems likely now that the market is turning green.

Nick James is a cryptocurrency writer and editor with up to a decade in the finance world. He has written for Forbes, Cointelegraph, Ethereum World News, Independent Republic, Zycrypto and many others.

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