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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Ethereum Options Contract Hints At The Altcoin Closing 2021 Over $10K

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read
ethereum options contract altcoin 2021

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Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
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Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Ethereum is nearing its former all-time high of $1,440 set back in 2018 at the peak of the crypto bubble. Those who hed the altcoin throughout the bear market are finally getting the comeback they have been waiting for.

But according to the strike price of a December ETH options contract that just debuted, the cryptocurrency could reach as high as $10,000 per token before the year’s end.

Ethereum Approaches Former All-Time High, Even As Bitcoin Maximalism Reigns

Ethereum is a polarizing cryptocurrency despite earning its place right behind Bitcoin. As much the crypto community relies on the smart contract-centric platform as a foundation for DeFi and thousands of other tokens, it also is regularly trashed by Bitcoin maximalists.

Dozens of “Ethereum killers” exist, proving that the rest of the industry is all gunning for the altcoin’s throne. It is one of the altcoins that was dubbed a “double-digit shitcoin” by a top crypto executive. That executive’s opinions might not be very valuable, but that’s an entirely different story.

Related Reading | Ethereum “Anti-Network Effect” Shows “DeFi Has Outgrown” The Altcoin

Regardless of what the industry thinks, Ethereum acts as the building blocks from some of the most important projects in the crypto world. Most of the DeFi tokens that are popular today are built on Ethereum.

And although Ethereum has been more bullish than Bitcoin has recently, it still suffers from industry participants calling attention to how high ETH fees have risen.

But even with rising ETH gas fees making the network look clunky and costly, the cryptocurrency’s price continues to rise. It is now back at $1,200 after hitting double-digit prices in 2020, adding two more digits in less than a year’s time.

ethusd ethereum

Could Ethereum really reach $10,000 by the end of this year? | Source: ETHUSD on TradingView.com

Will The Altcoin Gain Another Digit By December 2021? Options Strike Price Says Maybe

However, according to a newly debuted Ethereum options contract, another digit before the year is over isn’t out of the question. Deribit recently revealed the strike price for its Ethereum December 2021 options contract.

Options are a type of derivative product in crypto trading, in addition to futures and CFDs. When the platform revealed Bitcoin options contracts earlier in 2020 that had a strike price over $20,000, the price eventually gravitated there. Will Ethereum do the same?

Related Reading | This Eerie Ethereum Fractal Suggests The Top Is In… For Now

Going from $1,000 to $10,000 in a single year doesn’t sound possible, but Bitcoin did just that in 2017 and even touched just below $20,000.

Also, according to the chart above, Ethereum would need a 1000+% rise to get there. If you’re unsure if that is feasible, look no further than 2020 where the altcoin climbed 1000+% from its Black Thursday low to its December close. How will this coming December close next?

Featured image from Deposit Photos, Charts from TradingView.com
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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. 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’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

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’s 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’s 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. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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