Ethereum is reaching its previous all-time high of $1,440 set back in 2018 at the height of the crypto bubble. Those who kept the altcoin all over the bear market are now seeing the comeback they’ve been hoping for.
But according to the December ETH options contract strike price that just launched, the cryptocurrency could hit as much as $10,000 per token by the end of the year.
Ethereum Approaches Former All-Time High, Even As Bitcoin Maximalism Reigns
Ethereum is a cryptocurrency that polarises after winning its spot right behind Bitcoin. As much as the crypto ecosystem depends on the smart contract-centric network as a base for DeFi and thousands of other tokens, Bitcoin maximalists are still routinely trashed.
There are hundreds of “Ethereum killers” that show that the rest of the business is just gunning for the throne of the altcoin. It’s one of the altcoins that was called “double-digit crapcoin” by the top crypto executive. The executive’s advice may not be really important, but that’s a whole different story.
Irrespective of what the market feels, Ethereum serves as the building blocks of some of the most important crypto ventures in the world. Most of the DeFi tokens that are common today are based around Ethereum.
And even though Ethereum has become more optimistic than Bitcoin has lately, it also struggles from market players calling attention to how big ETH fees have grown.
But even with increasing ETH gas charges rendering the network appear clunky and pricey, the price of cryptocurrency continues to grow. It is now back at $1,200 after reaching double-digit rates in 2020, adding two more digits in less than a year.
Could Ethereum really reach $10,000 by the end of this year? | Source: ETHUSD on TradingView.com
Will The Altcoin Gain Another Digit By December 2021? Options Strike Price Says Maybe
However, according to the recently debuted Ethereum Options Contract, another digit before the year is over is not out of the question. Deribit recently announced the strike price for its choice contract Ethereum in December 2021.
Options are the type of derivative contract used in crypto trading in addition to futures and CFDs. As the exchange announced Bitcoin options contracts earlier in 2020 that had a strike price of over $20,000, the price ultimately gravitated there. Can Ethereum do the same thing?
Going from $1,000 to $10,000 in a single year doesn’t sound possible, but Bitcoin did just that in 2017 and even touched just below $20,000.
Even, according to the above table, Ethereum will require a 1000+ percent increase to get there. If you’re uncertain if that’s possible, look no further than 2020 where the altcoin climbed 1000+ percent from its low Black Thursday to its close of December. How’s this going to close next December?
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