Economist: Ethereum To Repeat Bitcoin Rally To $20K, According To Metcalfe’s Law

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Ethereum is now the second major cryptocurrency from the last bull run to break its former all-time high. One author and economist, however, claims that this is only the beginning of the top altcoin following in Bitcoin’s footsteps, and will soon rally to $20,000 mimicking the epic 2017 bull run. Here’s the theory behind the lofty price target more than 10 times the current price per token. Economist Estimates The Long Term Value of Ethereum Using Metcalfe’s Law Ethereum this week set a new all-time high, beating its peak set in 2017 amidst a flurry of initial coin offerings and widespread retail FOMO. The top ranked altcoin topped out at $1,419 on Coinbase back in January 2018 – weeks after Bitcoin set its then-record at $20,000. And although it fell to $80 in the years following, and is only now trading at that former level, an economist, trader, and mathematician…

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