Didn't BCH already hit $500 during June 2019 rally?
I don't see ETH going over $1000 in the near term. Reason why is there are too many underwater positions in it and it's the reason why every single rally gets sold into.
Keep in mind many people bought ETH at $500 or $750 or $1000 and they are sitting at huge losses unlike BTC. Hence with every rally we usually get a quick pullback right away.
There are also ICO who didn't sell their ETH during 2018 and they are just waiting for the perfect opportunity to unload those coins. It's going to be a huge struggle for ETH to regain $1000 again.
I don't see ETH going over $1000 in the near term. Reason why is there are too many underwater positions in it and it's the reason why every single rally gets sold into.
Keep in mind many people bought ETH at $500 or $750 or $1000 and they are sitting at huge losses unlike BTC. Hence with every rally we usually get a quick pullback right away.
There are also ICO who didn't sell their ETH during 2018 and they are just waiting for the perfect opportunity to unload those coins. It's going to be a huge struggle for ETH to regain $1000 again.
I have shifted my funds to both BTC as well as ETH and now after going through your post even I am bit skeptical but still my instinct says that ETH will reach somewhere around $300-400 by the end of this year or by the first quarter of 2020 if we witness a repeat of what happened during the end of 2017. The point which you have mentioned about the ICO's holding ETH for a right opportunity is more scary as it might change the course of pump (if we witness any).
I have some Eth in my wallets and I do not believe that it can one day reach the $1000 level (though of course I would be happy to be proven wrong by Vitalik Buterin haha)...as that is already impossible with the current situation, challenges and pressures that the coin is facing. I would say that the safe estimate for Eth is reaching the vicinity of around $400 in case there will be a good cryptocurrency bull run next year...this year is already tight so I already discounted the possibility for that to happen.
It is still very far for ETH to touch the price of $ 400. I think by the end of this year, ETH is still above $ 200, it is not possible to be able to go up so fast with the bullrish, indeed I also still hold the ETH and buy around $ 180 even though currently the price is down I'm not panicking and not worried because ETH is able to rise.
