Ethereum Bullish Price Prediction For 2020 – ETH Price To Hit $500 By The End Of This Year
The crypto market seems to be also affected by the global coronavirus panic. Italy was hit really hard these days, and this led to the fall of the markets, impacting the price of BTC as well, among other potential factors.
The crypto market looks bloody today, with the most important coins trading in the red.
Ethereum was recently in the spotlight when Anthony Pompliano compared Ethereum to traditional currency.
In a new blog post, Pompliano explained the reasons for which he believes Ethereum (ETH) is practically identical to fiat.
“Fiat currencies have (a) no fixed supply, (b) an inflationary supply schedule, and (c) monetary policy decisions that are decided by a small group of individuals. Ether has (a) no fixed supply, (b) an inflationary supply schedule, and (c) monetary policy decisions that are decided by a small group of individuals,” Pompliano said.
Ethereum price prediction
At the moment of writing this article, Ethereum is trading in the red and the coin is priced at $206.50.
IBTimes writes that “Also, the case for a $500 Ether before the end of the year is asserted by crypto whale Angelo฿TC, who has a history of making accurate predictions.”
Angelo฿TC tweeted, “My minimum take profits as we approach 2021: BTC – $30k ETH – $500 XTZ – $10 XRP – $1. Good luck, have fun.”
Good luck, have fun.
— Angelo฿TC (@AngeloBTC) February 18, 2020
Other than this, there are various analysts who claim that we might see a deeper correction for the price of BTC.
As we said at the beginning of this article, there are various factors that could bring the price of the most important digital asset lower, and these include a healthy correction before the halving event, which is scheduled for May, the global coronavirus threat, and more.
Stay tuned to see how the crypto market will evolve in these stressful times that can trigger lots of anxiety and panic due to the measures that are taken all over the world to contain the new virus.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.