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FX.co ★ Ether to reach $10K or higher levels this year

Ether to reach $10K or higher levels this year

 Ether to reach $10K or higher levels this year

Scott Melker, a well-known crypto trader and host of The Wolf Of Wall Street podcast, has recently announced a very bold forecast. He believes that in 2021, ether is likely to soar to $10,000. Melker is confident that by the end of this year, the second-largest cryptocurrency may well surpass bitcoin in value. Notably, its price broke another record not long ago. In his opinion, the current consolidation of bitcoin price has a beneficial effect on ether, whose performance is the main catalyst for the rise of the crypto market.

Currently, ether is trading at $2,157.

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 Ether to reach $10K or higher levels this year

To justify his forecast, Scott Melker revised his own trading strategy and in recent months switched attention from BTC to ETH. At the same time, he does not consider his decision risky. Under his forecast, BTC will rise in price less than five times from its current value. Notably, in 2020, bitcoin advanced by almost three times.

The host of The Wolf Of All Streets is not the only one who believes in the bright future of ether. Analysts at Kraken also assume that ether will significantly exceed the bitcoin index. According to experts, the key support and resistance levels are at $1,462 and $2,695. Although the peak of the uptrend is still underway, the rise in ETH quotes may well reach 700% from the levels of the end of March to the level of $15,238. Analysts at Kraken also expect a 50% increase in bitcoin in April. In early April, the asset hit the level near $59,000. So, the target level might be $90,000.

Anthony Scaramucci, the founder and managing partner of investment company SkyBridge Capital, is also betting on ether.

The first three months of 2021 were truly unique for the entire crypto industry as the quotes of many assets from all sectors of this market reached record highs. So, for the first three months of the new year, bitcoin gained almost 103%, notching the best performance for the first quarter in the last eight years. For the same period, ether added more than 250%.

The token of the Finance exchange (BNB) was the biggest gainer among the largest crypto assets by capitalization, swelling 709% in the first months of this year.

In the DeFi-asset segment, the absolute winners were the native tokens of the PancakeSwap (Cake) and Terra (Luna) projects, which grew by 3,031% and 2,403%, respectively

Judging by the results of smart contract platforms, the first place in terms of performance for the quarter belongs to Solana (SOL), which added 1,184% thanks to the growth of the ecosystem of the blockchain apps.

In the field of Web 3.0, the leaders were the tokens of decentralized data storage projects. Arweave (Ar) rose by 1,165% quarterly, while Storj moved up by 866%. Such a rise in quotations is due to a growing awareness of the importance of file storage in creating the next-generation Internet.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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