This prediction reads as a New Year miracle on December 31, as the second biggest crypto Ethereum has been unable to post any significant price spikes this year after reaching an all-time high of around $1,300 in January 2018. The highest price mark it has reached this year was $350 on June 26.
From time to time, predictions of ETH price rising and regaining its previous highs emerge.
‘A breakout looks ready’
The crypto analyst @CryptoMichNL believes that the ETH price is showing some bullish divergences which are marking the bottom on a significant support. If ETH performs certain actions (like build a HL), then it is very much likely to break out in Q1 next year. He believes that this would be a major kick-off for the whole crypto market in 2020.
The chart shows that after HLs in the past, the ETH price started surging - and it happened in Q1 of the year all the time.
On the graph, the analyst points to the $360 mark (0.050 BTC) as a possible level that ETH could reach in 2020 for a start.
‘The year of Ethereum’
The expert trader and analyst CryptoWolf seems bullish on Ethereum next year too. Although he does not offer any ETH price predictions, he says:
2020 will be the year of Ethereum.— CryptoWolf (@IamCryptoWolf) December 29, 2019
Many have noticed the growing DeFi ecosystem (powered by Ethereum) this year. The Ethereum co-founder Joseph Lubin has recently stated that around $650 mln worth of ETH is already locked in DeFi.
Over 20M total #Ethereum accounts were created in 2019.— Joseph Lubin (@ethereumJoseph) December 13, 2019
Over $650M USD is currently locked in #DeFi.
Over 4.5M $ETH was issued this year from block rewards.
The @ethereum machine just keeps chugging! 🚂https://t.co/nmu7guIcHS
The Defiprime website describes DeFi as follows:
“DeFi is the movement that leverages decentralized networks to transform old financial products into trustless and transparent protocols that run without intermediaries.”
The community expects this ecosystem to grow even bigger in 2020, hoping that this would pump the ETH price.
'ETH to hit $10,000 in next bull run'
As reported by U.Today earlier, a crypto trader stated that Ether is going to hit as much as $10,000 in the course of the next bull run. Now, the Ethereum community is having a heated discussion over this prediction.