{"id":405492,"date":"2019-11-26T17:00:08","date_gmt":"2019-11-26T17:00:08","guid":{"rendered":"https:\/\/wncen.com\/?p=405492"},"modified":"2021-01-06T19:49:35","modified_gmt":"2021-01-06T19:49:35","slug":"crypto-analyst-ethereum-will-never-again-breach-1k","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-analyst-ethereum-will-never-again-breach-1k\/","title":{"rendered":"Crypto Analyst: Ethereum Will Never Again Breach $1K"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">The crypto market has been struggling for nearly two full years now to return to all-time high peak prices set back at the height of the crypto bull run, when <a href=\"\/tag\/bitcoin\" rel=\"nofollow\">Bitcoin<\/a> reached $20,000 and became a household name and altcoins like Ethereum made investors filthy rich.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">During that time, <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> exploded to over $1,400 per ETH as demand for the asset fueled by the ICO boom caused its value to skyrocket. However, one crypto analyst says that Ethereum price won\u2019t ever come close to the $1,000 mark ever again, even if Bitcoin some day reaches prices of $50,000 or more per BTC.<\/span><\/p>\n<h2>The Rise and Fall of Ethereum<\/h2>\n<p class=\"p1\"><span class=\"s1\">Crypto assets, like any financial assets, are driven by market dynamics such as supply and demand. With scarce assets like Bitcoin that have low, hard-capped supplies, when demand rises, prices can grow quickly.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <\/strong><a href=\"https:\/\/wncen.com\/2019\/11\/11\/list-of-crypto-all-time-high-prices-shows-how-far-market-must-recover\/\"><strong>List of Crypto All-Time High Prices Shows How Far Market Must Recover<\/strong> <\/a><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">Such was exactly the case during the 2017 crypto bull run, which took the mainstream public by storm and the price of Bitcoin to its all-time high of $20,000.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">The public media attention on Bitcoin not only caused demand for the asset to skyrocket, but the price of the asset also followed. And as news of young investors turned millionaires made the airwaves, retail investors sought out to find the next Bitcoin in hopes of striking it rich.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">This led to the initial coin offering boom, where new assets were launched regularly as the next big thing. These ICOs were often built on the <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum<\/a> protocol as ERC-20 tokens, and investors bought up ETH to exchange for the shiny new altcoins tokens offering promise and hype.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">But once that ICO boom fizzled out and the crypto hype bubble popped, investors were left holding Ethereum that had little use or utility, and the price of Ethereum collapsed from $1,400 to as low as $80.<\/span><\/p>\n<p>Note: The analyst has since deleted their below tweet on the subject:<\/p>\n<p>https:\/\/twitter.com\/macnbtc\/status\/91382016?s=21<\/p>\n<p>&nbsp;<\/p>\n<h2>ETH To Never Return To Near Or Above $1,000<\/h2>\n<p class=\"p1\"><span class=\"s1\">Because there is little demand for Ethereum, <a href=\"https:\/\/twitter.com\/macnbtc\/status\/91382016?s=21\" rel=\"nofollow\">one crypto analyst<\/a> believes that Ethereum will never again reach prices near or above $1,000 per ETH, even if Bitcoin reaches $50,000 per BTC.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Bitcoin and other altcoins are still down significantly from their all-time highs, however, most altcoins are down 80% or more, and have also lost significant value in their BTC ratios.<\/span><\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading | <a href=\"https:\/\/wncen.com\/2019\/11\/14\/short-of-the-century-15-ethereum-possible-if-monthly-fails-to-close-bullish\/\">Short Of The Century: $15 Ethereum Possible If Monthly Fails To Close Bullish<\/a><\/strong><\/em><\/p>\n<p class=\"p1\"><span class=\"s1\">It\u2019s not just Ethereum, either. Many altcoins outside of the top ten cryptocurrencies by market cap are down as much as 99% from their all-time high prices \u2013 prices that are likely never to be seen again.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Unless there is another sudden rise in demand for <a href=\"\/tag\/ethereum\" rel=\"nofollow\">Ethereum,<\/a>\u00a0the analyst\u2019s prediction could very well come true. However, with crypto so young of a technology, anything is possible, and proper use cases and utility could be on the way.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The crypto market has been struggling for nearly two full years now to return to all-time high peak prices set back at the height of the crypto bull run, when Bitcoin reached $20,000 and became a household name and altcoins like Ethereum made investors filthy rich. During that time, Ethereum exploded to over $1,400 per ETH as demand for the asset fueled by the ICO boom caused its value to skyrocket. However, one crypto analyst says that Ethereum price won\u2019t ever come close to the $1,000 mark ever again, even if Bitcoin some day reaches prices of $50,000 or more per BTC. The Rise and Fall of Ethereum Crypto assets, like any financial assets, are driven by market dynamics such as supply and demand. With scarce assets like Bitcoin that have low, hard-capped supplies, when demand rises, prices can grow quickly. Related Reading | List of Crypto All-Time High Prices Shows How Far Market Must Recover Such was exactly the case during the 2017 crypto bull run, which took the mainstream public by storm and the price of Bitcoin to its all-time high of $20,000. The public media attention on Bitcoin not only caused demand for the asset to skyrocket, but the price of the asset also followed. And as news of young investors turned millionaires made the airwaves, retail investors sought out to find the next Bitcoin in hopes of striking it rich. This led to the initial coin offering boom, where new assets were launched regularly as the next big thing. These ICOs were often built on the Ethereum protocol as ERC-20 tokens, and investors bought up ETH to exchange for the shiny new altcoins tokens offering promise and hype. But once that ICO boom fizzled out and the crypto hype bubble popped, investors were left holding Ethereum that had little use or utility, and the price of Ethereum collapsed from $1,400 to as low as $80. Note: The analyst has since deleted their below tweet on the subject: https:\/\/twitter.com\/macnbtc\/status\/91382016?s=21 &nbsp; ETH To Never Return To Near Or Above $1,000 Because there is little demand for Ethereum, one crypto analyst believes that Ethereum will never again reach prices near or above $1,000 per ETH, even if Bitcoin reaches $50,000 per BTC. Bitcoin and other altcoins are still down significantly from their all-time highs, however, most altcoins are down 80% or more, and have also lost significant value in their BTC ratios. Related Reading | Short Of The Century: $15 Ethereum Possible If Monthly Fails To Close Bullish It\u2019s not just Ethereum, either. Many altcoins outside of the top ten cryptocurrencies by market cap are down as much as 99% from their all-time high prices \u2013 prices that are likely never to be seen again. Unless there is another sudden rise in demand for Ethereum,\u00a0the analyst\u2019s prediction could very well come true. However, with crypto so young of a technology, anything is possible, and proper use cases and utility could be on the way.<\/p>\n","protected":false},"author":517,"featured_media":405494,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[10862,428,6664,59707,1946],"class_list":["post-405492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-all-time-high","tag-bitcoin","tag-crypto","tag-crypto-bubble","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Crypto Analyst: Ethereum Will Never Again Breach $1K<\/title>\n<meta name=\"description\" content=\"The crypto market has been struggling for nearly two full years now to return to all-time high peak prices set back at the height of the crypto bull run,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/crypto-analyst-ethereum-will-never-again-breach-1k\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Analyst: Ethereum Will Never Again Breach $1K\" \/>\n<meta property=\"og:description\" content=\"The crypto market has been struggling for nearly two full years now to return to all-time high peak prices set back at the height of the crypto bull run,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wncen.com\/news\/crypto-analyst-ethereum-will-never-again-breach-1k\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-26T17:00:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-01-06T19:49:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wncen.com\/wp-content\/uploads\/2019\/11\/ethereum-crypto-shutterstock_645725677-860x645.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"860\" \/>\n\t<meta property=\"og:image:height\" content=\"645\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tony &quot;El Toro&quot; 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The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \\\"The Bull,\\\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \\\"The Bull\\\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. 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