BITCOIN

After the cryptocurrency market collapsed in January, some assets closed the month in the red. This includes Ethereum, the second-largest cryptocurrency by market capitalization, which went below 27% from December. While Ethereum (ETH) has already seen positive returns in February, the potential of a price crash remains. The price of ETH might drop as low as $1,700, according to Bloomberg. Experts believe, however, that Ethereum’s bullish fundamentals will be preserved. Ethereum May Follow Last Year’s Price Trend Bloomberg has warned that it is pessimistic on Ethereum (ETH). Bloomberg experts anticipate that Ethereum might fall to as low as $1,700 in their latest Intelligence report. The drop, however, could be followed by an upward correction. According to Bloomberg, Ethereum (ETH) could follow in the footsteps of last year’s June to September price movement, and fall below current levels to reach the aforementioned price. The report reads: “Ethereum could repeat last summer and r

Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained. JPMorgan’s Bitcoin Price Prediction Global investment bank JPMorgan has revealed its prediction for the long-term price of bitcoin as well as the cryptocurrency’s fair value. JPMorgan Chase & Co.’s strategists, led by Nikolaos Panigirtzoglou, wrote in a research note published Tuesday that their long-term theoretical target for bitcoin is $150K, up from $146K predicted last year . At this level, bitcoin’s total market value would be on par with that of all gold held privately for investment purposes, they explained. The analysts clarified that bitcoin’s “fair value” is around $38K, up from $35K estimated last year . They calculated the coin’s fair value

Ethereum has been zooming up on its charts over the past few days. In the last seven days, the altcoin posted double-digit gains as it secured a 20% increase in market value. Post the dip, Ethereum along with other major coins have followed similar kinds of price movement. At the time of writing, ETH was valued at $3230.12. Price action was considerably bullish today after weeks of consolidation as displayed by Ethereum. The altcoin toppled over its support level of $3085.60 and was seen hovering around the $3200 price level. Indicators pointed towards a bullish price action with possibilities of ETH moving further on the upside to test its immediate resistance levels. Ethereum Soars By 20% In The Last Week With Bitcoin recovering on its charts, the broader market displayed strength. Major altcoins have also witnessed increased buying strength. In the case of Ethereum, buyers have flocked the market and have also occasionally pushed ETH to an overvalued and overbought territory. Eth