CryptoComes Original Article
Skew analytical group, tasked with researching processes on the cryptocurrencies derivatives market, has updated its "price probability" statistics. It is an integral indicator based on the ratio of contracts that expect the price of an asset to reach X level by Y time.
Moderate optimism of Ethereum (ETH) traders
As unveiled by Skew analysts, 5 percent of all Ethereum (ETH) contracts set to expire by the end of December 2020 indicate the extremely bullish hopium of traders. Traders who initiated these contracts are expecting the Ether price to creep closer to astonishing four-digit levels.
Options-based probability of ETH > $960 at year-end = 5%
— skew (@skewdotcom) August 4, 2020
Agree? pic.twitter.com/H0ThYa7htD
Moreover, 5 percent of traders are sure that Ethereum (ETH) may close Q3, 2020, over $800. That would mean a more than 100 percent upsurge from its current price.
It should be noted that the Ethereum (ETH) price reached its all-time high on January 13, 2018. In the sunset of ICO euphoria and a splendid cryptocurrencies market capitalization bull run, it was worth as high as $1,449 on spot trading platforms.
February 2, 2018, was the last day of four-digit Ethereum (ETH) so far. At press time, Ether has slightly retraced from its local high over $400—up almost 300% up from its Black Thursday crash of March 2020.
Number of mid-term catalysts make Ethereans bullish
In terms of both technological progress and the market situation, Ethereum (ETH) looks really strong in the mid-term. First of all, the development of Ethereum (ETH) 2.0 is gaining steam with the fourth multi-client testnet, Medalla, up and running.
Also, Ethereum (ETH) blockchain is a nucleus of the majority of decentralized financial instruments (DeFis). Its splendid run may bring new money to Ethereum (ETH) from both crypto newbies and sophisticated "yield farmers."
Alongside that, prominent investor Ari Paul, co-founder and CIO of BlockTower Capital, has warned traders that the possible impact of DeFi euphoria on Bitcoin (BTC) and Ethereum (ETH) performance may be heavily overestimated.
As covered by CryptoComes, Mr. Paul claimed that new money may be reallocated in mid-cap altcoins prior to entering Bitcoin (BTC) and Ethereum (ETH) capitalization.
