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Ethereum to Maintain Uptrend | Analysts Predict $300

Following Bitcoin’s rally in recent weeks, there has been a tremendous upward momentum for major cryptocurrencies such as Ethereum that have gained significantly from their yearly lows to the current prices.

Ethereum Headed to $300

Analysts indicate that Ethereum is likely to maintain the current momentum and thus extending its rally towards $300 mark in the near term.

Currently, Ethereum is up about 2% from its $245 daily low and it trading at $251. When considering Ethereum’s price action over time the digital currency has significantly gained from its lows in 2018 of just below $90 and further up the 90-day lows of about $130.  The recent momentum of Ethereum is a result of Bitcoin’s recent rally that saw the price of Bitcoin surge to almost $8400 from lows of around $3000.

The upward surge of Ethereum has allowed it to establish some kind of bullish technical formations which will enable it to surge even higher in the future. The most remarkable formation being sought-after is “golden cross” which will lead to Ethereum surging even further.

In a tweet, Etherdamus confirmed to his over 10,000 followers that Ethereum’s golden cross had been confirmed and in the near future it is expected to show some bullish signs.

Analysts believe Ethereum will maintain upward momentum

Ethereum is thus destined for great highs following this momentum and one analyst holds that there is a potential of the cryptocurrency testing $270 and a break above this mark likely to lead to significant new highs.

Another popular analyst on Twitter, The Cryptomist set a price target of around $269 in the near term from the current support region of $249.

The upward movement of Ethereum and other Altcoins in the near term depends on whether BTC will continue rallying to new highs or it finds resistance and consolidates at its present price levels. A pullback is likely to effects the current market momentum of cryptocurrencies.

Analysts and traders will soon understand where Bitcoin and crypto markets are headed next.

Featured Image: Depositphotos/ akulamatiau

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Bitcoin Price | Brian Kelly Tells CNBC Watch for Rising Price

Bitcoin enthusiast and crypto fund manager Brian Kelly has told CNBC that Bitcoin price could rise further in the coming months.

His prediction isn’t unfounded; there is an impending supply cut on the horizon and this should help to push prices higher.

Brian Kelly Predicts Bitcoin Price will Rise

In an interview on CNBC’s Fast Money program yesterday, May 21st, Kelly explained that “the halvening,” which is due to take place in 2020, will cut mining rewards in half.

As such, he expects miners to begin hoarding BTC if they aren’t already doing so. This increased demand should see Bitcoin price rise as the supply becomes lessened.

Further, the coin is being spurred on by increased industrial adoption and use in retail.

Kelly described the four-year cycle that leads up to “the halvening,” saying:

“You generally have a rally a year into it, and a year out of it. And so we’re just at the beginning of that stage […] a supply cut is generally bullish.”

The fund manager goes on to say that investors should dedicate between 1% to 5% of their portfolio to cryptocurrency while prices remain stagnated around the current levels of $7,900.

Brian Kelly Predictions

Kelly has been a guest on Fast Money several times where he has made predictions for the future of Bitcoin and cryptocurrency.

Recently, the crypto-analyst stated that an approval for a Bitcoin Exchange-traded fund (ETF) was most likely to come in February 2019. We are still waiting on that one, however.

Other analysts believe there are several reasons for BTC’s recent surge. One idea suggests the United States and China trade war could be a reason. Another impetus could be the increased adoption of the mainstream. For example, Ebay recently caused a stir when photos of its banners at the Consensus conference in New York, leaked onto the web.

Saying: “Virtual Currency. it’s happening on Ebay”, the banners made many believe that the e-retailing giant is about to enter the cryptocurrency space. Ebay has yet to confirm anything, however.

Featured Image: Deposit Photos/stevanovicigor

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Crypto Second Half of 2018

Crypto Second Half of 2018: Investors were not pleased with the first half of 2018. While some focused on the S&P 500 (it’s up 1% YTD, instead of the usual 3.5%), others focused on cryptocurrencies.

In particular, investors watched Bitcoin, which notched up a 16- fold increase in 2017, only to drop by 55% between the start of 2018 and June 27th. 

Now, as of July 1, we are in the second half of 2018. Which means if things are going to change, now is the time to get going. But what if things change for the worse? Some speculate this might happen in the cryptocurrency industry. 

Crypto Second Half of 2018: Placing Bets 

A number of predictions have been made for crypto in the second half of 2018. From more regulation to more comments from Wall Street veterans, there is a lot of stuff up in the air about crypto Q2 2018. 

In this article, we’ll look at 3 specific crypto second half of 2018 predictions.

1: More Crypto Regulation 

Crypto regulation has been discussed on multiple occasions, and even though progress has been made, more needs to be done.

As a result, we should expect to see the Department of Justice (DOJ) increase its crackdown on illegal activity. 

2: More Guidance from the SEC

Moreover, the SEC is expected to provide more guidance on initial coin offerings (ICOs). This is important, as ICOs continue to garner more mainstream attention.

The reason we need more information is that many remain unclear about ICOs. Are they revolutionary, like some have said? Or, are they just another Ponzi Scheme, which has also been claimed? 

Others expect the SEC to answer the burning question of whether all ICOs are classified as securities in the second half of the year. If the SEC makes this announcement, we should expect to see fundraising slow down considerably.

>> Difference Between an ICO and a Cryptocurrency  

3: More Adoption on Wall Street 

In order for there to be wider Wall Street adoption of cryptocurrencies, the first two predictions on this list need to come true.

Large financial institutions will continue to stay away from cryptocurrencies and ICOs until the SEC clearly communicates its rulings on digital currencies. 

Take the example of Coinbase and Ripple (XRP). Sure, it makes sense for Ripple (XRP) to be listed on Coinbase, but the crypto startup has said publicly that it will never list XRP until the SEC has made its decision on the virtual currency. 

Additionally, regulators need to show that they can remove the criminal activity from the crypto industry. If these requirements are met, more traditional financial firms will enter the crypto space. 

>> Financial Institutions Already Involved in Crypto

Crypto Second Half of 2018: The Takeaway

Continued market volatility is also expected for the crypto industry, but this seems like a given. After all, even the most successful of stocks experience volatility from time to time. 

Do you have any more predictions for crypto? We’d love to hear them! Let us know in the comments below. 

Featured Image: Depositphotos/Konstantinp

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