https://www.forex-news.com/
Forex-News has been the world leading economy news website since 2005. It has been a joyful path full of changing variables in this changing world. During the last three years we have also covered some of the most important news regarding Bitcoin and other cryptocurrencies. Wherever the news are, we are there.
, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News
Bitcoin
$48,591.05
+535.17
Ethereum
$3,492.05
-74.12
Litecoin
$183.89
-4.28
DigitalCash
$204.03
-3.19
Monero
$267.86
+0.86
Nxt
$0.02
0
Ethereum Classic
$57.58
-0.73
Dogecoin
$0.25
-0.01

Could Ethereum (ETH) be worth $ 5,000 in May?

17
, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News

[ad_1]

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News

Today, the price of Ethereum (ETH), reached an all-time high of $ 2,487. And although the price has tripled since the beginning of 2020, the current speculative premium suggests that there is a lot of room to go. So could it be worth $ 5,000 in May?

Now, the current price of Ethereum is around $ 2,460 and the realized price, that is, the average price paid by all investors who currently have Ethereum, is at $ 802.

It means that current buyers of Ethereum (ETH) are willing to pay 3.04 times the price of what all current holders have paid on average for their Ethereum. Since, although this may be high, this multiple became 6 in the last bull market.

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News
, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News
Market value to realized value (MVRV). Source: Glassnode

In effect, to arrive at this multiple, the Market Value of Ethereum (current price of ETH) is divided by the Realized Value (what all current holders paid on average for their Ethereum).

In short, this multiple is called the MVRV ratio and was created by David Puell and Murad Mahmudov.

What is the MVRV ratio? Could it reach 5 by the end of May?

To better understand, MVRV (Market Value to Realized Value), is a ratio of the market capitalization of an asset to its realized capitalization.

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News

Ultimately, this ratio can be used to help assess the Ethereum market highs and lows. Also, as to provide valuable information on the buying and selling behavior of traders.

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News
Multiple throughout the existence of Ethereum. Source: Glassnode

In particular, if the uptrend continued and there was a rebound in the MVRV ratio, a multiple of 5 could eventually be reached by the end of May.

And what’s better, as there are more buyers in the market, the realized price is expected to increase over time. Only in the last month, it increased by 15.1%.

That is, projecting this until the end of May, the Realized Price could increase by 26.43% to about $ 1,014 per Ethereum. Therefore, based on a multiple of 5, this would result in a market price of $ 5,070 for Ethereum.

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News
Ethereum: Realized Price. Source: Glassnode

Future vision for Ethereum (ETH)

Thus, this projection is a real possibility, especially with Ethereum and Bitcoin reaching new all-time highs on a regular basis. Notably, there are no guarantees when it comes to price and time targets.

The truth is, earlier this year, Bitcoin trader Josh Olszewicz set his Ethereum short-to-medium-term target price at $ 780.

Also, another short-term prediction from Simon Dedic, co-founder of Blockfyre, sees Ethereum at $ 800.

However, there is a chance that the bullish scenario has a good chance of occurring. But, there is still a lot of work to do. Does $ 5,000 for an Ethereum sound crazy to you by the end of May? Let me know in the comment box.

I close with this phrase by Mark Cuban: «I think investors should buy more Ethereum than Bitcoin. Ethereum is a true currency».

[ad_2]

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News

Get real time updates directly on you device, subscribe now.

, Could Ethereum (ETH) be worth $ 5,000 in May?, Forex-News, Forex-News

Leave A Reply

Your email address will not be published.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More