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Ethereum (ETH) Price Inching Closer to $200, Up More Than 15 Percent Since Fred Wilson's Doom-Laden Blog Post

  • Alex Dovbnya
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    Ethereum continues to post green updates with its price moving closer to the $200 mark despite gloomy predictions

Ethereum (ETH) Price Inching Closer to $200, Up More Than 15 Percent Since Fred Wilson's Doom-Laden Blog Post
Cover image via www.forbes.com

Ethereum (ETH), the biggest altcoin by market capitalization, has registered a modest 1.79 percent price increase over the last 24 hours that pushed it closer to the psychologically important $200 mark. At press time, it is sitting at $198.2, according to Coin Stats data.

Top coins by market capitalization
Image by coinstats

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ETH is up by more than 15 percent since American venture capitalist Fred Wilson announced that he had changed his stance on the top altcoin. As reported by U.Today, Wilson, who earlier predicted that Ether’s market cap would surpass that of Bitcoin, acknowledged that Ethereum suffers from scaling issues in his lengthy blog post entitled “Some Thoughts On Crypto.”

While its tempting to assume that these green price updates could be a sign of another alt season, Ethereum’s short-term rival might be attributed to the first-ever Ethereal Summit and the recent BitPay addition.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Likely to Decline to $7,800: Crypto Analyst

  • Yuri Molchan
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    Bitcoin is to find support at $7,800 or recover to $8,300, an analyst writes, but either way ‘continuation of the ranging on either of the levels is going to occur’

Bitcoin Price Likely to Decline to $7,800: Crypto Analyst
Cover image via www.123rf.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Over the last few days, Bitcoin has been trading below the $8,500 area. At the moment, it has recovered to $8,258 after the recent slip below the $8,100 level.

Analysts have been bullish on BTC in the long run, however, the nearest BTC price movements are expected to be bearish.

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The crypto analyst @CryptoMichNL believes that there are two paths ahead of Bitcoin at the moment. If it fails to recover to $8,300, he says on his Twitter page, then the market should be ready for the flagship coin to drop and find support at the $7,800 or $7,300 levels.

Whichever way it goes, ‘continuation of the ranging on either of the levels is going to occur’.

The analyst tweeted this forecast twice with an hour pause.

Subscribe to News.U.Today on Twitter and get involved in all top daily crypto news, stories and price predictions!

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

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