Ciaran Ryan
3 minute read
26 Jan 2021
7:05 am

Ethereum run far from over

Ciaran Ryan

Some technical analysts eyeing much higher levels of $35,000 in the next two to five years.

MTI promised investors up to 10% return a month using a computerised trading system, first trading forex, then bitcoin, although the Financial Sector Conduct Authority (FSCA) could not find any evidence of trading success by the company. Picture: GETTY IMAGES NORTH AMERICA/AFP/GEORGE FREY

Ethereum, the second-biggest crypto asset after bitcoin, hit its previous all-time high of $1,400 this month and is trading at 130 times its price of four years ago. Astonishing as this is, technical analysts say the run is far from over. Some crypto investors have started rotating out of bitcoin into smaller coins such as Ethereum’s ether and Chainlink’s link digital token, as momentum shifts to altcoins expected to pick up pace as we enter 2021. Altcoins refer to all crypto coins that are not bitcoin. Bitcoin’s phenomenal rise over the last two months has stalled and investors seemed unimpressed...