Ethereum is showing bullish strength again, finally. The strong correction that began at the beginning of May lasted around 8 weeks. On the last day of June all cryptocurrencies, including Ethereum, were subject to significant price increases and, today, the market seems to be consolidating the levels reached. This is something we haven’t seen in 2 months, so it’s an encouraging sign.
Ethereum ETH has all the credentials to reach the target of $ 1,000, the point is that the main indicator is Bitcoin, given the positive correlation between Bitcoin and cryptocurrency altcoin, being still very strong, when the price of Bitcoins the price of Ethereum also tends to fall. In other words, it is advisable to look at Bitcoin in parallel with Ethereum for a prediction of the price of Ethereum. Although in the short term the danger of a new market crash is still quite probable, in the long run, we remain very confident about cryptography, and Ethereum in particular. Some famous analysts think that the price of bitcoins will reach between $ 25,000 and $ 50,000 by the end of the year and if these forecasts are correct, at least in part, we could see a surge in the price of Ethereum, at which point the $ 1,000 seems a target achievable.
In addition to Ethereum another altcoin that can do very well is Ripple XRP, the current price of about 0.48 dollar cents seems really very low considering the potential of the cryptocurrency promoted by the company Ripple, which is currently making enormous efforts to promote the whole XRP world. Recall that for a short period at the beginning of the year, before the downtrend of markets began, XRP has passed Ethereum in the top list, ranking in second place behind Bitcoin, this may already be an indication of the potential of Ripple