Ethereum Price Forecast: ETH Price Still on Track for $1,500

Ethereum-Prices
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Ethereum News Analysis

The forgetfulness of markets never ceases to amaze me.

At the start of the week, cryptocurrencies were the dream asset class. Their endless upside and instant time horizons made it seem like anything was possible.

But now that crypto prices have stumbled, investors are afraid the entire project will collapse. ETH prices fell 3.47% against the U.S. dollar, bringing the Ethereum to USD exchange rate to near $433.19. Does this mean you should run for the hills?

Absolutely not. Everybody needs to calm down.

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What was true yesterday should also be true today, given that nothing much has changed.

There was no crushing Ethereum news or regulatory shift outlawing crypto trading in the U.S.

It was a purely psychological crash in prices. Some investors cashed in their profits, driving down prices, which in turn scared other investors.

Investors shouldn’t be so quick to forget what they purportedly knew earlier in the week.

For example, ex-Fortress hedge fund manager, Mark Novogratz, was predicting $1,500 Ethereum recently. Should he change his opinion because of yesterday’s sell-off? Of course not.

In the same way, ask yourself if there is a fundamental difference in your investment thesis from yesterday to today. If the answer is no, you may not want to panic just yet.

Daily Ethereum Chart

ethereum price chart for 1 dec

How Active Are Investors?

In the last 24 hours, investors swapped $1.55 billion worth of ETH tokens, which was roughly 19.19% lower than yesterday. Part of the reduced volume was organic, though some of it can be attributed to a temporary outage on Coinbase.

Where Are Investors Trading Ethereum?

Bitfinex is the most prominent exchange for trading ETH tokens. It accounted for 11.22% of total demand. The No. 2 and No. 3 spots were filled by Bithumb and OKEx, which accounted for 9.53% and 9.30%, respectively.

Analyst Take:

We maintain our $1,500 Ethereum price forecast for 2018.

Also Read:

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Hold on to Ethereum for the Long Term