Analysts Predict $100 Price for Ethereum’s Ether Token

The price of ether rose a meteoric 65% in April to touch $80, but already analysts are predicting that the digital token could pass $100 – and soon.

In remarks to CoinDesk, cryptocurrency hedge fund managers were perhaps the most bullish about this projection, stating that they believe it will hit this mark in coming trading sessions. Opened to the market in 2015, ether tokens, which power the ethereum blockchain, are up 2,800% from their original sale price during a fundraiser for the platform.

“I told my head trader two days ago that ether was going to hit $100, and probably hold there for a while,” Tim Enneking, manager of Crypto Currency Fund, told CoinDesk.

Arthur Hayes, operator of the cryptocurrency derivatives exchange BitMEX, agreed, predicting that ether’s “massive bull run” will likely end with its price reaching $100, though he believe active traders will likely take profits and reassess the asset at this point.

Still, not everyone believes that ether’s price movements are worthy of the spotlight.

Jacob Eliosoff, an algorithmic trader, pointed to what he called the “general hysteria” around the market for publicly traded cryptographic assets. (Data from Coinmarketcap reveals the total market added

Read more ... source: CoinDesk

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