Timothy Peterson predicts the cost of ether will continue to rise

Analyst Timothy Peterson of Cane Island Alternative Advisors believes that over the next five months, the investment appeal of ether (ETH) will increase significantly.

The largest altcoin exceeded $1200 the day before. Within the next 24 hours, the coin could surpass its own figures of three years ago and exceed $1400. In about five months, ether could consolidate above $2,000, Peterson tweeted.

He analyzed data on ETH’s monthly returns against bitcoin from 2015 and concluded that the attractiveness of the instrument will increase.

The Unfolded team also points to the growing value of altcoin. It found that along with bitcoin, interest in ether has grown on the Internet. The number of searches related to ETH has already surpassed the record figures of the turn of 2017-2018.

The number of those wishing to buy the altcoin jumped after it exceeded $1,000. In January 2021, the price of ETH increased by more than 60%.

The coin is adding on the background of the aggressive growth of bitcoin. BTC the day before was above $40,000 for the first time. Analysts attribute the sharp rise in the value of the cryptocurrency to the political crisis in the U.S., provoked by supporters of incumbent President Donald Trump.