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Will the ether rise to $ 1,900 this year? Photographer: Chris Ratcliffe / Bloomberg
Ether, the digital token that powers the Ethereum network, has had a difficult year.
The digital token is down more than 80% from its record high of $ 1,432.88 in January, reaching a minimum of $ 170.26 last month, CoinMarketCap the figures show.
However, this alternative protocol resource (altcoin) is poised to make some strong gains by the end of the year, according to Tom Lee, who expected what ether & nbsp; will reach $ 1,900 before 2018.
In making this prediction, Lee, head of research at Fundstrat Global Advisors, pointed to the recent sharp losses of ether, stating that the digital currency is well positioned for recovery.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
Ether has underperformed other large-capital digital currencies of two standard deviations over the past three months.
In the past, when & nbsp; ether was lagging behind his peers, the digital token recovered those losses, he & nbsp;he wrote in a note to customers.
Skeptical reaction of analysts
While Lee could be very confident about the 2018 prospects of ether, several analysts threw cold water on his $ 1,900 price forecast.
"Sif a price move is highly unlikely, "said Tim Enneking, & nbsp;CEO of Digital capital management. & Nbsp;
"There are no drivers pushing the ETH at 40% above the previous historical maximum," he added.
Joe DiPasquale, CEO of cryptocurrency fund of hedge funds & nbsp;BitBull Capital, he also expressed his doubts about Lee's predictions, stating that he does not "believe" that ether will "hit $ 1,900 in three months." & Nbsp;
Marius Rupsys, an investor in digital currency, provided a similar answer.
"I would say it's a small chance that the ether will reach $ 1900 at the end of 2018," he said.
"The ether is trading around $ 220 per coin, so it would need to collect more than 8 times over the next three months, "noted Rupsys, noting that the demand for such a rally has little chance of materializing. & Nbsp ;
Upward expectations
While several cryptocurrency analysts were skeptical of Lee's prediction, some market observers have emphasized how optimistic they are about technology and the price outlook for the ether.
"We strongly believe in Ethereum," said Chris McClure, Ph.D., marketing director of & nbsp;cryptocurrency data provider& Nbsp;Svandis.
"Whether it's Sharding, Plasma or OpenST Mosaic, there are enormous technological reasons to be optimistic about Ethereum and believe in a speculatively high price in 2019. Ethereum is aggressively oversold and late for a rally that will go into 2019. "
Marouane Garcon, managing director of the Crypto-to-crypto derivatives platform Amulet, also spoke with digital currency technology, stating that "I think Casper and sharding will add immense value to Ethereum's blockchain." & Nbsp;
"Ethereum is a staple food in this area, "said Garcon, noting that the entire space would be less robust without it. & Nbsp;
In the end, he predicted it "As developments are implemented to improve Ethereum's blockchain, the price will certainly exceed its previous historical high and reflect its true value for industry. "& Nbsp;
Disclosure: I own some bitcoins, bitcoin money and ether.
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Will the ether rise to $ 1,900 this year? Photographer: Chris Ratcliffe / Bloomberg
Ether, the digital token that powers the Ethereum network, has had a difficult year.
The digital token fell more than 80% from its record high of $ 1,432.88 in January, reaching a minimum of $ 170.26 last month, as shown by CoinMarketCap.
However, this alternative protocol resource (altcoin) is poised to make some net gains at the end of this year, according to Tom Lee, who predicted that the ether will reach $ 1,900 before 2018.
In making this prediction, Lee, head of research at Fundstrat Global Advisors, underlined recent strong losses of ether, stating that the digital currency is well positioned for a recovery.
[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]
The ether underperformed other large-capital digital currencies of two standard deviations over the past three months.
In the past, when the ether has greatly delayed its peers, the digital token has recovered those losses, he wrote in a note to customers.
Skeptical reaction of analysts
While Lee could be very confident about the 2018 prospects of ether, several analysts threw cold water on his $ 1,900 price forecast.
"Sa price move is highly unlikely, "said Tim Enneking, CEO of Digital Capital Management.
"There are no drivers that push the ETH to 40% beyond its previous historical maximum," he added.
Joe DiPasquale, CEO of the hedge fund cryptocurrency fund BitBull Capital, also expressed his doubts about Lee's predictions, stating that he does not "believe" that ether "will hit $ 1,900 in three months".
Marius Rupsys, an investor in digital currency, provided a similar answer.
"I would say it's a small chance that the ether will reach $ 1,900 by the end of 2018," he said.
"The ether is trading around $ 220 per coin, so it would need to raise more than 8 times in the next three months, "noted Rupsys, noting that the demand required for such a rally has little chance of materializing.
Upward expectations
While several cryptocurrency analysts were skeptical of Lee's prediction, some market observers have emphasized how optimistic they are about technology and the price outlook for the ether.
"We strongly believe in Ethereum," said Chris McClure, Ph.D., chief marketing officer of cryptocurrency data provider Svandis.
"Whether it's Sharding, Plasma or OpenST Mosaic, there are enormous technological reasons to be optimistic about Ethereum and to believe in a speculatively high price in 2019. Ethereum is aggressively oversold and late for an event that will last until 2019. "
Marouane Garcon, managing director of the Crypto-to-crypto derivatives platform Amulet, also spoke with the technology of digital currency, stating that "I think Casper and sharding will add immense value to the Ethereum blockchain".
"Ethereum is a staple in this area, "said Garcon, noting that the entire space would be less robust without it.
In the end, he predicted that "As the developments are implemented to improve the Ethereum blockchain, the price will certainly exceed its previous historical high and reflect its true value for the industry. "
Disclosure: I own some bitcoins, bitcoin money and ether.
