The price of Ethereum touched $235 intraday today. That is an incredible achievement, as 4 days ago Ethereum briefly dipped at $115. An increase of 100 percent in one week is quite unimaginable. It indicates how volatile cryptocurrencies are, but, above all, it shows strength in Ethereum as it is the outperformer among cryptocurrencies currently.
This Ethereum price site shows the real time price, as well as the intraday high and low. Note how this 10 percent intraday change is no exception at all, but rather the norm. Cryptocurrencies are not for the faint ot heart type of investors.
Ether is the best performing cryptocurrency at the time being, and that is no coincidence as it attracts lots of interest from around the world, both from retail and also investment professionals.
In just one month the price of Ethereum is up a staggering 190 percent. That is amazing, and no other cryptocurrency has been able to recover that fast from last week’s flash crash.
Recent fundamental news points out that Chinese people are massively buying Ethereum. The Royal Chinese Mint is experimenting with a digital RMB on the Ethereum blockchain, Chinese internet corporation are utilizing Ethereum for aggregated payments services, Alibaba’s $60 billion financial arm is experimenting with Ethererum to improve their global payment platforms.
Moreover, here in the West, the first Ethereum Trust is becoming a real success, with a fourfold price increase in just one month. Retail public is also massively buying Ethereum as evidenced by the strong buying pressure once Ethereum corrected to $120 last week.
With that, it is almost a fact that InvestingHaven’s Ethereum price forecast for 2017 of $550 will be met. From today’s prices, it is less than a 100 percent increase, and we still have 7 months left.
Note as well that InvestingHaven’s research team calculated their very long term price target: their Ethereum forecast for 2020 is $1000, based on supply and demand (a fundamental method to forecast the future price). That may sound an unnatural target, but it really is no overly bullish target as explained in detail in their analysis which was well quantified.