Tom Lee: Ethereum Will ‘Rally Strongly’ Up to $1900 by 2019

Tom Lee: Ethereum Will ‘Rally Strongly’ Up to $1900 by 2019

Altcoins News
September 28, 2018 by Sandra Onyeiwu
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Wall Street firm Fundstrat Co-Founder Tom Lee has predicted that Ether (ETH), the world’s second-most valuable cryptocurrency, was about to “rally strongly. “Ethereum will surge up to $1,900 by the end of 2019, which is 40 percent higher than the coin’s all-time high. Basing his prediction on the historical performance of Ethereum, Lee said that
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Wall Street firm Fundstrat Co-Founder Tom Lee has predicted that Ether (ETH), the world’s second-most valuable cryptocurrency, was about to “rally strongly. “Ethereum will surge up to $1,900 by the end of 2019, which is 40 percent higher than the coin’s all-time high.

Basing his prediction on the historical performance of Ethereum, Lee said that the times when Ethereum “underperformed peers by two standard deviations,” the price trend saw a subsequent reverse.

In a note to clients of Fundstrat Global Advisors, Lee noted that the token, which has suffered a severe sell-off this year as investors retreated from the virtual-asset market, is about to bounce back.

Ether has lost half of its value in the past three months and has underperformed large-cap coins by two standard deviations, which could signal that it’s time for a rebound, he said.

Lee believes while ETH has underperformed its peers by two standard deviations, it’s “a sign of capitulation.”

Concluding Lee said, Ethereum will reach $1,900 by the end of 2019 — a price point that is at least 40 percent higher than Ethereum’s all-time high of $1,349.

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