Ethereum is the largest cryptocurrency altcoin out there that rivals Bitcoin in terms of national popularity and success in the crypto world. It may hit $11,000 per coin in the future, according to AMB Crypto.
When Ethereum reached an all-time high of $4,878 per token earlier this week, there was a flurry of excitement surrounding the cryptocurrency. The coin is currently growing at a rate similar to that of Bitcoin‘s increase in 2017.
- At that time, Bitcoin had a huge rally that propelled it from $6,000 per coin to $19,000 in one month. It represents a 236% increase, per AMB Crypto.
- Ethereum’s growth may be on pace to do something similar. Assuming the coin rises by 236%, it would end up at about $11,000 per coin.
Having said that, according to AMB Crypto, “one should not forget that Bitcoin is one of a kind.” On the other hand, Ethereum, is not the next Bitcoin. They also added that in fact, ETH’s rise has not been strong enough to support a 343% rally in any way. Even a 236% rally looks uncertain now. According to The Motley Fool, cryptocurrency prices declined this week across the board, which isn’t a positive sign for the coin.
Bitcoin Mining
According to the Motley Fool, one of the most noticeable bearish events this week was the decision by Chinese officials to tighten up on Bitcoin mining reports. Which occurred earlier this week. Since Bitcoin is a cryptocurrency that frequently regards as a benchmark for the valuations of the industry, this Bitcoin-related news has rippling consequences for the majority of large-cap crypto currencies.”
However, assuming the coin’s current value of $4,000 maintains, experts believe it has a promising future. According to Benzinga, this would allow the upcoming bull run to take place. Also, for Ethereum to continue to rise in value and perhaps reach new and sustainable all-time highs.
