• 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
    • What is Bitcoin?
    • 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
    • What is Bitcoin?
    • 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

Will Ethereum Surge Past $300 When Bitcoin Finally Corrects?

Martin Young by Martin Young
2 years ago
in Cryptocurrency news, Ethereum
Reading Time: 2min read
Will Ethereum Surge Past $300 When Bitcoin Finally Corrects?
Advertisement
Nexo Logo
Listen to Article

For the best part of the last month Bitcoin has been relentlessly chomping into the altcoin markets as its dominance surged to a seventeen month high of 60 percent. An inevitable cooling off and pull back for Bitcoin is expected, but will traders be putting their profits back into fiat or choosing low priced alternatives such as Ethereum?

Ethereum Prices Sill On The Floor

Ethereum is rallying at the moment but the long term picture still shows ETH depressed at mid-2017 prices, down 84 percent from its all-time high of $1,400. Comparatively, Bitcoin has almost doubled in six weeks and is only 60 percent off its peak price.

Ethereum shot to $400 in June 2017 and then again in early September but spent a lot of time hovering around the $200 to $300 level. It only really took off in December of that year in a short lived rally that was on the way down again by mid-January.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Since then Ethereum nosedived almost 94 percent to a low of $85 in mid-December 2018. It has shown limited signs of recovery but has been blitzed by the performance of others such as Litecoin and Binance Coin. That could all change when Bitcoin corrects and traders seek cheaper alternatives. Crypto trader going by the moniker ‘CryptoFibonacci’ wrote;

“It makes sense, with the money some people have made on BTC, they will naturally rotate back to some beaten up Alts they like. The key here is to see what reacts well and what does not.  A lot of these Alts will not be around in a year, so be careful IMO.”

$BTC $ALTS

It makes sense, with the money some people have made on BTC, they will naturally rotate back to some beaten up Alts they like. The key here is to see what reacts well and what does not. A lot of these Alts will not be around in a year, so be careful IMO.#BTC

— CryptoFibonacci (@CryptoFib) May 15, 2019

Ethereum would be a good choice since it still has huge potential and massive upgrades slated for later this year. Add to that its low price and we could see a move up to $300 pretty quickly. Other traders such as ‘The Crypto Dog’ wrote “I am currently long $ETH/$USD. #Ethereum currently at resistance, if it can break this range high I think we see $240 very soon. Next target after that: $300.”

Ethereum is currently at resistance just above $200 but could well go further if it can be broken due to a short term outflow from Bitcoin. ‘Crypto Fib’ added;

“Getting close to major resistance.  But it is also forming an ascending triangle.  Expecting a retrace here soon but then to break out higher after.”

$ETH Daily Chart.

Getting close to major resistance. But it also forming an ascending triangle. Expecting a retrace here soon but then to break out higher after.#ETH #ethereum pic.twitter.com/OCsugcazCZ

— CryptoFibonacci (@CryptoFib) May 15, 2019

At the time of writing Ethereum was having one of its best days of 2019 with a surge of 10 percent from just above $200 to $220 according to Coinmarketcap.com. Daily volume is at a solid $13 billion and ETH market cap has reached $23 billion, its highest for seven months. Ethereum is slowly pulling itself off the floor but there is a long way to go yet for the world’s second largest crypto asset.

Image from Shutterstock
Tags: altcoinsethereum
TweetShare54
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
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Related Posts

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

6 hours ago
router

Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

23 hours ago
bitcoin dark web monero

Why The Dark Net’s Most Active Market Ditched Bitcoin For Monero

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Reclaims $40,000 as Powell Rubbishes Taper Tantrum Woes

3 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Logs Revenge Recovery as Lagarde Calls for Global Regulation

4 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Flickers Near $35,000 as Bond Yields Drop; A Detailed Outlook

4 days 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

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 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
    • What is Bitcoin?
    • 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.