As ICO reamains hot, ETH, as the token, finally breaks $1,000 for the first time, what's you explanation for the target price? Share your analysis below.
Original analysis from Kuang Ren:
The ability to move against the overall downtrend during previous oscillation pattern at high level makes ETH the leader in this round of uptrend among major coins.
Currently, ETH is the only major coin that sets a new all-time high and moves in an independent way, which can be explained by the increasing application scenarios. ETH will fall only when ICOs stop being crazy.
Original by Kuang Ren, translated and posted by AICoin Jami.
I haven't heard of Kuang Ren but is the guy legit? I mean does he's analysis hits the mark or what?
As far as Ethereum goes, nice to see if it actually breaks the 4 digit mark, because its currently stands at $997 though in coinmarketcap, maybe other trading platforms already surpasses it. I guess it can reach as high as $2K or even more in this year. Not only banking, but a lot of institutions and ICO's are pushing the price of Ethereum specially the beginning of December. So its look like this is a different landscape for Ethereum, although I thought that it can really break into the 4 digit, but for me its too early.
Let's see how it goes though, their seems to be a renewed interest in this coin and it looks like smart contract is slowly sipping in different sectors specially in banking industry.