We all know that the crypto business is not an easy one, especially at this rate where some cryptos are facing lawsuits. About a week ago, Tether had a deadline to meet; now Ripple has a case. That aside, many major news outlets are talking about Ethereum getting to $10,000, but we all know that this depends on the "forces."
Ethereum dipped 8% this morning after hitting its all-time high, but it is gradually recovering. On the bright side, these dips are usually not all bad; they are more of purchase opportunities.
Analysts and several cryptocurrency outlets believe that now Ethereum is surging near its all-time high, it may rally 60% to $10,500 by Eth. That is massive profit; this gain is possible in the long run, and there have been many crazy Ethereum predictions lately. The increase is very bullish, and there's also a possibility that people will start buying Ethereum now.
If you set Google trends to 30days, you will see that Ethereum is on a downward trend, but it will pick up soon, especially since we have news about price predictions, giving us forethought on what Ethereum will be like in the future. Now that all the American political affairs (inauguration and all) are learning up, Ethereum has a higher chance of hitting $2,000 in a few weeks. The current market capital of Ethereum is $150billion; 42x to $300 billion would put it at $2,600 per Eth, which is still less than half the market cap of Bitcoin. Many investors are begging to show interest gradually in Ethereum because of its vast potential, but they are waiting for the volatility to clear up.
Ripple pins hope on Biden administration as its co-founder sells 28.6M XRP. Jed McCaleb was the co-founder of Ripple before he left in 2014 to go and create his cryptocurrency, Stellar. He still owns a significant amount of XRP, which in his contract, he is allowed to sell an individual amount of XRP every day. He is continuously dumping XRP into the market, which is another reason why the price of XRP is held down over time, that, on top of this lawsuit, is a lot of bad news piling up. People are beginning not to buy into XRP as they wait for all of this to clear up. This will take some time tho. At this rate, Ripple may not make a considerable profit even through a bull market.
