Ethereum's Price Could Rise 40% in November, Says Popular Trader

The price of Ethereum (ETH) could rise by as much as 40% in the month of November, according to analysis made by a popular trader.

Josh Olszewicz, a “self-taught trader” working with Techemy Capital, has said on social media he believes November could be am month for the leading altcoin, as its price could rise to as much as $260.

At press time, CryptoCompare data shows ETH is trading at $187, after seeing a near 3% rise in the last 24-hour period. Over the last 30 days it’s up by 10.6%. While the cryptocurrency rose along with most cryptos shortly after Chinese President Xi Jinping’s remarks on blockchain technology, it dropped against BTC.

In the last two weeks, Ethereum is down against the flagship cryptocurrency by around 10.1%. If it does surge to $260 the figure could change heavily in ETH’s favor, or other cryptoasset may also rise as news seen as positive keep on coming

 

Ethereum's price performance over the last 30 daysSource: CryptoCompare

The Intercontinental Exchange’s cryptocurrency venture Bakkt has recently hit a new all-time high in trading volumes for its bitcoin futures product, and has earlier this week announced it’s set to launch a crypto “consumer app” in the first half of next year, with Starbucks as its first partner.

Ethereum itself has seen some developments. Heath Tarbert, the Chairman of the U.S. Commodity futures trading Commission (CFTC) has revealed he believes ETH futures contracts could be launched in 2020, It’ll also see Zcash (ZEC) join its DeFi ecosystem via a wrapped token.

Featured image via Pixabay.