Ethereum Passes $3k; New All-Time High Of $3.3k

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Ethereum Passes $3k; New All-Time High Of $3.3k
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In the wake of Ethereum passing $3000, now at $3300, its new All-Time High, Bitbull Capital share their thoughts.

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Ethereum Price Hits $3300

"Ethereum has outperformed BTC lately and has managed to post a new all-time-high after crossing the $3,000 mark. Even though ETH’s price is touching highs unseen before, we can assess its potential for appreciation by looking at the ETH/BTC pair, which is still trading well below its all-time-high over 0.15 BTC.

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The most recent resistance level on the ETH/BTC pair was 0.05, which has now been broken, and we can expect ETH to trade as high as 0.07 before meeting any significant resistance.

Although there's room to grow, given that ETH’s USD price has gone up significantly in a short period of time, we are likely to see a retracement towards $3,000 before another move up. But keeping the ETH/BTC ATH in mind, we wouldn’t be surprised to see a $5,000 ETH soon."

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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