After Bitcoin now Ethereum: ETH cracks $900 mark
What a weekend for crypto enthusiasts! The Bitcoin price breaks through the $30,000 mark and sets a new all-time high at around $34,400 and there seems to be no end in sight.
But Bitcoin wasn’t the only one to post a strong gain over the weekend. The number 2 cryptocurrency by market capitalisation has just been Crypto Code able to take the $900 mark.
While the cryptocurrency is still some way from its previous all-time high of around $1,300, there is a good chance that ETH will see further upward movement in the coming weeks and months.
Ethereum heading for $1,000
A number of well-known analysts are already writing loudly for a close above $1,000 by the end of next week, as trader yTedd illustrates in the following tweet.
What did I tell you, after 800$ there is 900$
You know whats comes after?
1 0 0 0 $$ETH pic.twitter.com/03qXBJXXzQ
– yTedd (@TeddyCleps) January 3, 2021
But he is not the only one bullish on ETH. Well-known and also accurate analyst CryptoBirb has been publishing analysis for months now showing that Ethereum is on track to hit new highs:
$ETH :) https://t.co/WGTRBIQpfI
– CRYPTO₿IRB (@crypto_birb) January 3, 2021
By the way, the trader also suspects a strong rise in Litecoin in the next few weeks (To buy Litecoin with PayPal instructions).
Altcoins know only one direction today
There seems to be only one direction for the crypto market this weekend. Ethereum is up over 20%, while Litecoin is also surging, passing the $150 mark. But the rest of the top 10 coins are also making strong gains, except for Ripple (XRP).
One thing seems clear at the moment: The stronger Bitcoin moves, the more altcoins follow suit. PlanB, the developer of the Bitcoin S2F model, published his latest data in a tweet today, as you can see in the following tweet:
If history is any guide we could see $100K in 3-8 months pic.twitter.com/fFcIKEJOUX
– PlanB (@100trillionUSD) January 3, 2021
In the chart above, you can see the evolution of BTC after halving and it does indeed seem to be the case that the price is evolving as in the last bull cycles. In doing so, he points out that it is possible that we could see a Bitcoin price of $100,000 in the next 3 to 8 months.