Ethereum Can Reach $1000 on Bullish Market

The fact is that cryptocurrency market is dominated by Bitcoin in every possible way. If Bitcoin price goes down, all other currencies will suffer. Ethereum price has reached to $739, which is 2,80% in value, while Bitcoin is still trading at nearly $19,000 right now. It seems we can expect another price gaining of Ethereum in the next few hours, although Bitcoin may spoil that party rather quickly.

It is good to see the Ethereum price approach the previous all-time high again, though. A lot of people have been waiting to see Ethereum hit $1,000 this year, yet time is slowly running out. Although the altcoin is already 70% of the way there, it’s always the last part which becomes harder. That will be no different for Ethereum , yet this push toward the four-digit mark may happen a lot sooner than people anticipate.

Ethereum showed $2,32 billion trading volume in the last 24- hour trading. The situation is good for this asset. There is a possibility, we will see this volume increasing over the past few hours, because more investors are diversifying their bitcoin tokens into other altcoins. Ethereum is just one of the many options in this regard.

Bitfinex is the leading exchange for Ethereum trading volume, which is somewhat surprising. Their lead over Binance is quite large, although it’s nothing that can’t be overcome either. GDAX and Bithumb are duking it out for the number three position, with just $3.8m separating the two exchanges. It will be interesting to see how all of this plays out in the long run. Three fiat currency markets in the top 4 is a pretty bullish sign.

It is obvious we can see some fireworks of cryptocurrencies before the end of this year. Bitcoin has showed its power, but there are many altcoins which are still undervalued. Ethereum surprised many investors, making wildest grow in price. But there remains some bull intension. It remains suspicious whether we’ll see a new all time high this week.