I am very pleased to see the pumping, Ethereum already crossed $300. I think in running year 2020 Ethereum will hit $1000. What is your opinion?
Even if that will be a welcome sight I do not believe the potential for ethereum is that high, there is simply not enough money in the market for that to happen, the bitcoin dominance will have to go down and I do not see that happening on the middle of a pandemic with rising gold prices, at most I see ETH reaching 500 dollars at the end of the year and even that price seems to be too high as the current growth we are seeing is already showing signs that it is slowing down.
Ah,,, we all know when people start making ridiculous price estimates that the sentiment in market is truly up;)
Not that I do not believe it cannot happen! Crypto is such that any price is possible,,, including zero price;)
But let us be real here and ask how ETH can sustain above $300 first, before talking about $400 and $500?
FOMO is very real and I think we are seeing this happening as we speak, so it is not really a matter of whether or not ethereum can sustain that price, speculators do not really care about that, what they care about is that it reaches that price and for that they need hype, they need people excited about it, about all the things that it can achieve and I think they are getting people into a frenzy and they are buying the coin like we have not seen in a long time but when this happens you know that there are some whales behind it and that is never a good thing for the small investor.