Ethereum would reach $1,900 by the end of 2019-If Stats are to be believed Ethereum has lost 70 percent of its value this year. Although Wall Street’s biggest crypto bull says it’s “about to rally strongly.”
Ether has had a tough year. But it’s Not too late for a comeback, according to Bitcoin bull Tom Lee.
The former J.P. Morgan Chief Equity Strategist said the cryptocurrency was “dogged” by a heavy supply being sold from EOS. EOS, a similar cryptocurrency was previously working on the same platform as Ethereum. Switched it to its own new token.
Ethereum would reach $1,900 by the end of 2019-Ethereum the world’s second-largest digital asset was amongst the top performer in 2017, But in the past three months alone it has dropped 50 percent and largely underperformed other top cryptocurrencies according to data from coindesk.
Lee, currently the Managing Partner and Head of research at Fundstrat Global Advisors, contended that Ethereum would reach $1,900 by the end of 2019. Currently, Ethereum is trading around $230. The altcoin price will surge by 726 percent by the end of the year, according to Lee.
If Ethereum surges to $1900 that would make the cryptocurrency 40% more valuable than it’s all-time high $1349, recorded in January 2018.
Ethereum launched on July 30th, 2015, is the second largest cryptocurrency by market capitalization at press time. Ethereum renders an open-sourced blockchain that features smart contracts. And even a basis for emerging blockchain-powered applications in a number of industries.