Ethereum (ETH) price against the US Dollar has jumped 13.8% during early trading hours of Wednesday to reach US$154.48, increasing the market capitalization to US$16.09 billion. This has helped the altcoin to become the second largest altcoin (in terms of market cap) again by overtaking Ripple (XRP).
Ethereum has reclaimed the second position after mid-November 2018. Since touching low during mid-December 2018, Ethereum price has gained over 78%.
What did BitMEX CEO Arthur Hayes Recently Predict about Ethereum Price?
BitMEX CEO Arthur Hayes recently said that he believes Ethereum (ETH) price against the US Dollar will return to US$200-level once the new Initial Coin Offerings (ICOs) hit the market. When asked about the rebirth timing of ICOs, he said that it’s still 12-18 months out. However, he stressed the fact that the ETH/USD price will hit the US$200-level far sooner.
A Quick Look at the Ethereum Price Movement & Market Cap
At press time, Ethereum price against the US Dollar is trading at US$154.75 (ALT100 index) with a market capitalization of US$16,120,274,407. Trading volume of ETH saw significant increase on OEX, a leading Chinese cryptocurrency exchange. At OKEX and Binance too, the trading volume of ETH/USD witnessed significant spike.
ETH was trading at US$85 during the first week of December 2018. The cryptocurrency showed remarkable progress since mid-December and crossed the US$100 mark soon. The Bull Run didn’t stop there. After crossing the resistance at US$98 and psychologically strong resistance at US$100, the momentum increased and soon moved above the US$135 last week. After the 13.8% rise during early hours of Wednesday, Ethereum has crossed the US$150 mark. Ethereum price analysis shows that the bullish run will continue over the US$150 support.
Ethereum price’s hourly chart is showing a tremendous uptrend from US$120.35 to US$138.52 to US$160.6. Ethereum technical analysis shows that ETH-USD pair has successfully broken above the US$149 resistance and is currently hovering around the current price. Both the 1-hour and 24-hour charts show a bullish trend, depicting a continued uptrend in the near future.
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