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Ethereum has performed rather well in recent months, recovering completely from the March market cataclysm. The world’s second-largest crypto is now valued at $249 at the time of publication and a few analysts believe its rally is far from over.
One analyst, in particular, says it won’t come as a surprise for him if ETH surged to $1000 in the next 12 months.
ETH Rallying Above $1000 In Coming 12-24 Months?
Although ETH is still down 80% from its $1,432 all-time high registered two years ago, it has been showing incredible strength in the past couple of months. The asset has gained 21.7 percent in the past week alone. For perspective, bitcoin (BTC) is up “only” 13.4 percent over the same timeframe. As a result of this steady rally, more than 80% of ETH holders are now in the money (in profit).
Full-time crypto trader Michael van de Poppe, also known as crypto Michael, took to Twitter a couple of hours ago to express his optimism about the price of ethereum in the coming months.
In his tweet, Michael posited that it would not be surprising for him if ethereum skyrocketed to $1000 within a year or two.