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The odds of Ethereum hitting $11K by the end of 2021 are…
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There is huge anticipation around Ethereum’s price action. On 10 November, the altcoin registered a new all-time high of $4,878 on the charts. Alas, a correction followed thereafter. And, it gave investors a subtle hint of what to expect from future price actions.
Investment strategist Raoul Pal shared a chart yesterday, one that underlined how Ethereum’s current price movement is imitating Bitcoin’s 2017 price action closely.
Ethereum imitating Bitcoin | Source: Raoul Pal
Consider this – Bitcoin recorded a major rally in December 2017, one which took the king coin from $6k all the way up to $19k in a month and a half. This period of appreciation saw the crypto hike by 236% on the charts.
Bitcoin price action in 2017 | Source: TradingView –
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