Ethereum Is Compared To Gold By Crypto Analyst | CryptoGazette
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Ethereum has been making more headlines lately, and these are especially due to the optimistic predictions that are flooding the crypto space.
It’s been just revealed that the popular crypto analyst Benjamin Cowen says he’s looking at Ethereum (ETH) to determine whether the leading smart contract platform has what it takes to be a store of value.
In a new interview on the crypto channel InvestAnswers, the analyst made sure to explain that while many investors see gold as a store of value, he emphasizes that the precious metal has remained virtually flat over the last decade.
“What do people mean when they say store value? Do you mean you want it to stay the same price and store the value, or do you want it to increase in value? I think there’s sort of a disconnect there…”
He also said this:
“That’s one of the things we see on Twitter with gold. There’s a lot of gold investors that like it because theoretically, it’s a store of value, but the problem is it hasn’t done anything in a decade, so while the price is the same that it was 10 years ago, it’s not worth as much because of inflation.”
Ethereum price prediciton
Regarding the price of ETH today, at the moment of writing this article, ETH is trading in the green and the coin is priced at $2,938.
Pseudonymous crypto trader Smart Contracter said that Ethereum retracing to slightly above $3,000 after surging to a high last reached in mid-January is an “opportunity.”
Smart Contracter said that his bullish thesis is built on Ethereum’s price is resting above the major moving averages (MA), including the 50-period MA on the four-hour chart.
In a new FS Insight report, Fundstrat Digital Asset Research’s head of digital asset strategy Sean Farrell addressed the fact that Bitcoin (BTC) has moved past the stage where cycles determine its price.
Regarding the price of ETH, the analyst said that it’s still undervalued.
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