Ethereum price increase to $ 1,700; Less than two days until the release of CME contracts
As Ethereum’s futures traded higher on the Chicago Mercantile Exchange (CME), Ethereum broke past $ 1,700, breaking its all-time high in recent weeks.
Ethereum prices have risen to $ 1,760 in the past 24 hours, according to Kevin Desk. Ethereum is currently trading at $ 1,666 per unit. Market data show that the price of Ethereum has jumped 30% since Monday.
Alex Kruger, a digital currency trader and analyst, said in a recent forecast that the price of Ethereum would reach $ 1,920 before futures traded on the Chicago Mercantile Exchange. These contracts will be offered on February 8.
The current trend of Ethereum is similar to the price trend of Bitcoin in 2017. In December 2017, a few weeks before the launch of Bitcoin futures on the Chicago Mercantile Exchange, the price of Bitcoin rose from $ 6,200 to $ 19,783. The price of Bitcoin fell to $ 3,200 a year later in December 2018.
“Kruger said, ‘
I do not expect the price of [Ethereum] to fall after the release of Ethereum futures contracts like in 2017 [for Bitcoin]. I think so for two reasons; First, the current market is more mature, macroeconomic currents are different from that time, and market players are not the previous actors. Second, Ethereum is an asset with a higher beta. Bitcoin dominates the market and determines the direction of the market. Ether moves after it.
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