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Ether's summer surge may be slowing, but here's why $7,000 is still possible this year
After a sharp run-up that pushed the world's second-largest crypto token (ETHUSD) to a fresh high earlier this week, ether has seen a modest pullback. Still, bullish analysts expect it to resume climbing soon and extend its outperformance against bitcoin (BTCUSD). "I think that [the ether rally] was an institutional bid, rather than a speculative one," said Luke Nolan, senior research associate at CoinShares, a crypto investment firm. Continued institutional inflows, corporate buying and a friendly macroeconomic environment could drive ether's price to as high as $7,000 by year-end, Nolan added. Ether traded up ... (full story)
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