Ethereum will double within two weeks once ATH is breached

  • 16. January 2021 at 11:47

Asset manager: Ethereum will double within two weeks once ATH is breached

Ethereum beat Bitcoin in terms of returns in 2020, but the altcoin still hasn’t broken its previous all-time high, while Bitcoin is now well past its former high.

However, according to one crypto asset manager, the altcoin will “double in a fortnight” once Ethereum reaches its former high.”

In 2017, both Bitcoin and Ethereum had an extreme rise together, capturing the lion’s share Bitcoin Code of capital in the crypto market.

Many of the early projects launched at this time in the ICO phase were useless, abandoned or sometimes even simply a scam. But the coins that survived the icy crypto winter are currently heating up again.

DeFi projects built on Ethereum once again show the value that the altcoin and its underlying network have, but so far the momentum has not driven the asset to a new all-time high as it did for Bitcoin.

But that won’t be long now, according to Moonrock Capital Managing Partner Simon Dedic. Dedic claims that like Bitcoin, once the bulls manage to break the previous high of $1,400, the cryptocurrency will “double” to over $3,000 in less than “two weeks”.

You remember how $BTC pumped from 20k to 40k in just 3 weeks once it broke its ATH?$ETH will pump from 1.4k to 3k in less than 2 weeks once its ATH is broken imo.

In addition, the whole alt market will be the double digit gains every day.
– Simon Dedic (@scoinaldo) January 14, 2021

Price doubles in less than two weeks

A move of this magnitude may sound implausible after the asset has spent three full years trading below its former peak, but the FOMO that occurred when Bitcoin surpassed its former peak is a prime example.

Options contracts on Ethereum that exceed $10,000 at the end of 2021 are also a good sign for the trendy asset.

If ETH fails to break through its former all-time high soon, the consequences could be catastrophic, as investors could continue to favour bitcoin en masse.

And because so many altcoins are built on Ethereum, all eyes are currently on the top altcoin to see if the cryptocurrency can lead the rest of the asset class back to previous all-time highs, or if cryptocurrencies will continue to live under Bitcoin’s reign.