Nik Patel, the author of An Altcoin Trader’s Handbook, a popular book on trading altcoins, has recently started a survey with his followers. The result is that most of the crypto community believes that Ethereum (ETH) will be able to reach $1,000 USD once again.
According to the survey, 54% of the respondents believe that the price will be reached again, while others are not so sure. Ethereum is currently the second-largest crypto in the market and it is only behind Bitcoin (BTC). Since the bear market, though, Ethereum has been growing a lot less than Bitcoin and it got left behind.
Will $ETH ever trade above $1000 again?
— Nik Patel (@cointradernik) August 10, 2019
At the moment, you can buy Ether for just over $200 USD, but the all-time high of the tokens was $1,400 USD, considerably higher than now. Bitcoin has already recovered over half of its all-time high while ETH is struggling to go up again.
Crypto Twitter, however, believes that the dominance of BTC, which is around 70% now, will go down again and that altcoins will see growth once more.
Not everybody is so optimistic, though. A big portion of the investors, 34%, does not believe that ETH will reach $1,000 USD again.
What will happen is really hard to predict. There is an obvious trend in which most altcoins are losing their market value, with only a few exceptions such as Binance Coin (BNB) being able to grow even more than Bitcoin, but there is hope.
Ethereum, specifically, is set to receive upgrades soon that will possibly turn it into a much more useful technology and this can certainly be a sort of catalyst for prices to go up.