Tom Lee: Ethereum is ready for growth

According to Bloomberg, the head of the Fundstrat research group believes that ETH will soon demonstrate a “trend reversal and a bull run” to a price of $1,900 per token by the end of 2019. In his message to Fundstat Global Advisors clients, Lee noted that the “overly negative” sentiment in the Ethereum market will become the foundation for future achievements.

In his prediction, Lee referred to the past performance of Ethereum. According to Lee, by the end of 2019, one ETH will cost $1,900. This is a price that is almost 40% higher than the maximum mark of $1,349, which was reached on January 13, 2018. Ethereum is currently trading at $230, meaning Lee believes its price will rise 726% by the end of next year.

In July, Lee said Bitcoin could trade between $22,000 and $25,000 by the end of the year. Most recently, an analyst concluded that Bitcoin's price could be even higher by the end of the year, citing the correlation between BTC and emerging markets.

Ethereum, which launched on July 30, 2015, is currently the world's second-largest cryptocurrency by market capitalization. Ethereum provides an open-source blockchain platform on which smart contracts can run and blockchain applications can be developed.

After jumping to $1,300 in 2018, Ethereum's price has dropped significantly and is currently trading at just 17% of its peak. In September, Ripple twice overtook Ethereum in market capitalization.

According to https://cointelegraph.com/