ETH, the most popular crypto currency in the market today, is gaining a great deal of interest. Analysts say Ethereum may reach $3,000 in the year’s end. Investors and traders are interested to learn more about this ETH December prediction. We’ll now examine what is driving the ETH surge.
Will we make big profits in December this year? What can we expect?
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Cryptocurrency Market Analysis for December 2018: Predictions, Investments and Price Insights
Increase in ETH Options Activity
It is a market that’s buzzing. This shows a growing level of confidence about the future value of Ethereum. QCP Capital reports that:
“The options market witnessed renewed interest in ETH, with over 20k contracts targeting the $3k level by December 27. The year-end outlook for ETH could be shaping up to be significant.”
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Investors expect a surge in ETH prices by the year’s end, based on this surge of option activity, especially at $3,000 and above.
The Institutional Investor and the Market Structure
Chicago Mercantile Exchange data confirms this bullish outlook on Ethereum. The volume of Ethereum and the Open Interest (OI), both rose dramatically on September 13th. OI increased to $3.1billion, while volume was near $700m. These figures show a growing institutional interest for Ethereum.
However, US ETH ETFs aren’t seeing much demand. There was an inflow of $1.5m daily, but a net outflow of $12.92m over the course of the week.
Prices and Short-Term Challenges
ETH has a good long-term future. It faces some short-term challenges. Coinbase analyst David Duong He says that the market structure is responsible for the slow growth in ETH prices. He notes that:
“crypto investors were tied to other altcoin positions, limiting capital flow to ETH.”
One more challenge: About 100,000 Ethereum tokens have been moved from exchanges to other locations before September 18, when the Fed will announce its rate. It could have an impact on short-term price.
Ethereum’s value was $2,439.19 despite these difficulties at the time of reporting. This is a 5 percent increase in just seven days. The market is optimistic, as evidenced by this rise and the increase in option activity. Many people believe the ETH Dec price prediction of $3000 could become true.
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Ethereum will be facing a crucial period in the coming months. The cryptocurrency must withstand market fluctuations, economic and regulatory factors, as well as new regulations. To make an informed investment decision, investors should keep track of its activities, market sentiment, and institutional interest. We will, we know it!
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Source: watcher.guru
