Saturday, January 23, 2021

Capital Manager Simon Dedic Says Ethereum Price Will double In Two weeks Once New ATH Surfaces

Simon Dedic, Moonrock Capital Managing Partner, has predicted that the price of the second-largest cryptocurrency by market cap, Ethereum (ETH), will double in less than two weeks once it records a new all-time high.

In 2020, Ethereum (ETH) significantly outperformed Bitcoin (BTC), the largest cryptocurrency by market capitalization, but ETH is still chasing its price all-time high of $1,432 recorded in January 2018, while Bitcoin has since doubled its former price all-time high of relatively $20,000.

Read Also: Gemini’s Tyler Winklevoss Describes Ethereum Network as “Decentralized Amazon Cloud Computing”

Back in 2017, the two largest digital currencies enjoyed a tremendous rise that drew the attention of the world toward cryptocurrency as a whole.

Bitcoin (BTC) as the top digital asset and first-mover carried the industry on its back, while Ethereum (ETH) acted as the foundation on which the future of the industry was built.

Back then, when Bitcoin and Ethereum were building blocks for the future of crypto, many projects launched at that time became useless because they were abandoned or outright scams. However, some survived the pressure and now heating up again.

Ethereum (ETH) Price to Double in Two Weeks Once It Breaks Its All-Time High

Despite the success of decentralized finance (DeFi) projects that are built on Ethereum, the cryptocurrency is still failing to overcome the hurdles on its path to an all-time high.

Read Also: Real Vision CEO Raoul Pal Describes How Ethereum (ETH) Would Hit $20,000 in This Bull Cycle

But that won’t last for long, according to Moonrock Capital Managing Partner Simon Dedic. Dedic claims that like Bitcoin, as soon as bulls manage to breach the former high set at $1,432, the cryptocurrency will “double” in less than “two weeks” to over $3,000.

Simon Dedic tweeted, “You remember how BTC pumped from 20k to 40k in just 3 weeks once it broke its ATH? ETH will pump from 1.4k to 3k in less than 2 weeks once its ATH is broken imo. In addition, the whole alt market will be the double digit gains every day.”

Read Also: Mike Novogratz Makes U-Turn about Ethereum Investment, Says ETH Is Going Much Higher

In conclusion, a move of that magnitude might sound implausible after the asset has spent three full years trading below the former high, but the FOMO that arrived once Bitcoin bypassed its former record high is the only example necessary. So, the same could also apply to Ethereum (ETH) after a break above its all-time high.


Follow us on Twitter, Facebook, Telegram, and Download Our Android App.

Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

Related Articles

Latest Articles