Naeem Aslam
Zaye Capital Markets
Cryptos
In terms of cryptos, Ethereum prices started to skyrocket yesterday and crossed above the 1,500 price level for the first time. We talked about ETH crossing above the 1,500 price before as well. There is enormous support for Ethereum and there is no doubt Ethereum is the next internet.
During the massive Bitcoin run, we did not see any major rally for Ethereum prices. ETH only recovered its losses and went slightly above the previous high. However, a new bull trend has started, and the immediate near term target is $2,000. There may not be any surprise if ETH prices actually double from their current level. However, for this to take place, we must see another bull run in Bitcoin price as well.
The information is purely for education purposes only and cannot be perceived as an advise.
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