Ethereum Price Analysis: Is $200 the Next Stop for Ethereum, If Bearish Trend Persists?
- As Bitcoin is struggling to touch $8000 mark, Ethereum is also reeling under pressure.
- The medium-term is bullish, and the target remains at $500.
The impact of the crypto market leader, Bitcoin (BTC) on the whole market was known to every stakeholder. As Bitcoin is now struggling to touch the 8000 USD mark, the entire industry is reeling under immense pressure. This pressure also can be seen on Ethereum (ETH). The Bitcoin’s broader spread sell-off had made Ethereum go down an expert believes that it may go as low as 200 USD in the recent future. In the last one month, Ethereum (ETH) was going with a good pace, and it was up from its monthly low of 174 USD. But the latest fall was not anticipated. As per our prediction, the fall is a temporary one, and soon the coin will revive. Ethereum (ETH) is likely to have a bullish medium-term, and by the end of 2019, the coin will have its value around 500 USD. Let us look at the current statistics of the coin.
Ethereum Price Statistics-
- Ethereum (ETH) is the 2nd largest coin in the market at the current market cap.
- The ROI (Return on Investment) stands at 8170.29%.
- A total of 106,425,780 ETH coins are in current circulation.
- The current market cap as on 10th June at 02:51 UTC stands at 24,870,950,594 USD.
- The value of each coin stands at 233.96 USD and 0.03070824 BTC.
- The 24h volume stands at 7,677,254,360 USD.
Ethereum Price Comparison-
At the very start of the year, Ethereum (ETH) experienced a fall of 33.03% over 32 days. This fall dragged the coin to its lowest point of 103.43 USD on 07th February. However, the coin managed to grow at a steady pace since then. Significant growth can be noticed on 25th April when the coin gained almost 75% over 21 days. The Market Cap on 10th May was 18,538,062,034 USD, and the value of each coin was 171.76 USD. The current market cap and the value of each coin are respectively 34.16% and 36.21% more than the values of last month.
Ethereum Price Prediction-
Though the coin is reeling under pressure now, eventually, as per Ethereum Predictions, we assume that good days are ahead for Ethereum (ETH) By the end of 2019, the coin will have its price of around 500 USD.
Conclusion-
The price of Ethereum (ETH), like all other altcoins, is significantly linked with Bitcoin’s price. New entrants should leverage the position if they are investing in multiple coins.
