• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Ethereum

Analysts Say Ethereum Surging Past $200 is Only the Beginning of Exponential Growth

Samuel Wan by Samuel Wan
12 months ago
in Ethereum
Reading Time: 2min read
Analysts Say Ethereum Surging Past $200 is Only the Beginning of Exponential Growth
Advertisement
Listen to Article

Since the start of the year, Ethereum has been moving steadily upwards, sometimes violently, to form a steep vertical channel. And yesterday’s sharp gains saw a breach of the key $200 level.

As such, analysts expect this to be a massive turning point for the number two cryptocurrency, which up until the start of the year, was in a 6-month slump of descending price.

But having flipped the trend, expectations for further gains are intensifying. And certainly, goings-on within the Ethereum ecosystem lends support to that idea.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!
Ethereum Daily Chart
Ethereum Daily Chart. (Source: tradingview.com)

Ethereum Cracks Key $200 Level

Currently, Ethereum is up 4% trading at $218. A somewhat moderate gain following the spectacular achievements of the past two days.

Nonetheless, this is mirroring the present market sentiment, which has cooled off following a crazy period of explosive gains for many. Today, from the top 20, only Tron and Chainlink are posting double-digit gains.

All the same, price action from this week has left ETH bulls ecstatic. And having crossing above the psychological $200 level, the expectations of significant long term gains are high.

At the start of Ethereum’s parabolic spike on Wednesday, analyst Josh Rager posted his opinion on ETH, suggesting that it could be a great long term buy.

“We’ll look back in two years and talk about how sub-$200 $ETH was a gift.”

We'll look back in two years and talk about how sub-$200 $ETH was a gift pic.twitter.com/WhA0Y2tJAV

— Josh Rager ? (@Josh_Rager) February 5, 2020

JohnLiv echoes this view, with a price prediction of $400 by the end of 2020. However, in the short term, he sees Ethereum next big test, at $240, sparking a break down of upward momentum.

All the same, much like Josh Rager, JohnLiv remain long term bullish on Ethereum.

“The crypto currency in my analysis is now looking very much like its heading north after half a year of south bound travel.”

Ethereum TA
Technical analysis of long term Ethereum price. (Source: tradingview.com)

The Fundamentals Indicate Long Term Strength

Happenings within the Ethereum ecosystem indicate the project will be hard to top going forward. And the major talking point on everyone’s lips is DeFi, which continues to exceed expectations.

Yesterday, as Ethereum was surging, the amount locked up in DeFi crossed $1 billion. Which is an astonishing achievement considering the relatively short time needed to get there.

$1 billion is now locked into decentralized finance applications & protocols after 2.5 years.

It took Lending Club 5 years to get to that same amount.

Finance has always been a high value, low engagement product. It’s exciting to see #DeFi take off—it didn’t need scalability. pic.twitter.com/RRzemqRJVG

— Ian Lee (@ianjohnlee) February 7, 2020

A year ago, the amount locked up in DeFi was just $276 million, a far cry from where it stands today.

And what’s particularly impressive is the exponential growth that has come about since the start of 2020. In 5 short weeks, the amount locked up in DeFi grew 50% from $668 million on January 1st.

Indeed, DeFi’s rising popularity is sparking huge demand for Ethereum. On top of which staking in Ethereum 2.0 is also doing the same. All of which is adding to the demand for Ethereum.

Whether a break down occurs at $240 remains to be seen, but for now, ETH holders can revel in the satisfaction of major progress being made.

Tags: ethereum
TweetShare18
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Samuel Wan

Samuel Wan

Samuel Wan is passionate about different cultures and eating good food. He has years of experience working in business and finance — a burgeoning interest in Bitcoin and cryptocurrencies since 2017. UK based.

Related Posts

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

Highly Anticipated Ethereum Fee Model Upgrade is Expected in 2021

4 days ago
Ethereum

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

6 days ago
Ethereum, ETHUSD, ETHBTC, ETHUSDT, cryptocurrency

Ethereum Analyst Predicts Record High against Eerie Bearish Setups

2 weeks ago
Ethereum, ETHUSD, ETHBTC, Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Don’t Sell Your Bitcoin and Ethereum on RSI Warnings: Analyst

2 weeks ago
Bullish Continuation Pattern on Ethereum Predicts Price Over $1,500

Bullish Continuation Pattern on Ethereum Predicts Price Over $1,500

3 weeks ago
ethereum defi crypto altcoin

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

3 weeks ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Cryptowisser Releases Report on Exchanges With Lowest Fees

January 22, 2021

LABS Group Announced Strategic Partnership with Centifuge to Provide DeFi Collateralized Property Backed Lending

January 22, 2021

Jump-starting Crypto Adoption: Aurix IEO Scheduled for January 21st on ExMarkets!

January 22, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.