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A popular crypto analyst says he expects the value of Ethereum, the world’s leading smart-contract blockchain, to skyrocket by over 4,300% from its current price of $225.
Bitcoin Macro gave his fearless forecast after being asked by one of his followers to provide his year-end prediction for the coin, saying ETH may climb to $10,000 in a new bull cycle.
Ethereum developers say they’re making strides behind the scenes. In a recent Ask Me Anything session on Reddit, developers working on ETH 2.0 say that they’re hoping to launch “phase 0” of Ethereum 2.0 by July 2020.
Researcher Danny Ryan writes,
“Phase 0 will certainly launch in 2020. Audits are out and testnets are getting stronger every week. I don’t see a reality in which Phase 0 does not launch in 2020.”
Ethereum 2.0 is the next major upgrade of the second-largest cryptocurrency.
It promises key improvements such as increased transaction throughput and the implementation of a proof-of-stake model that allows holders of ETH to earn rewards in return for powering the network.
In other BTC news today, new simple analysis says the Bitcoin price will jump 15% to $11,500 in coming weeks.
In the recent edition of the Decentrader newsletter, author and cryptocurrency trader Filb Filb drew attention to the $9,550 level for Bitcoin (BTC), which shows that this price point has always been an inflection point for the market.
More specifically, when the BTC price passed above $9,550, the leading crypto asset gained even more strength, and when prices failed to break this level, rallies quickly turned into bearish reversals.
With this in mind, he wrote that if Bitcoin can close the weekly candle above $9,550, which BTC is currently far above, it could “make its way to $11,500 quickly.”
This would represent a 15% rally from current levels over the next few weeks.
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.