Ethereum (Up 32%) Moons, Hitting $1,000 Overnight

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Cameron Winklevoss, who will be forever linked to that infamous scene in the Harvard dean’s office in the Social Network, is a big fan of all things crypto. Together with his brother he founded Gemini, a successful crypto platform, and the pair have been one of the most ardent supporters of Bitcoin and many other crypto coins ever since.

Although I am not a convinced fan of these gentlemen, I find them simply too bullish, they did make an interesting point this weekend. Cameron reminded everyone that Ethereum at $800 was the equivalent of Bitcoin at $15k, given how far it still is from it’s all time high.

$ETH was the best performing asset (up 450%) of 2020 hands down and still below its all-time high. Today it’s the equivalent of 15K #Bitcoin I would take that bet all day long

— Cameron Winklevoss (@cameron) January 1, 2021

Although Vitalik Buterin’s coin has since climbed even higher and has touched the $1,000 ($1,150 on Coinmarketcap) level now, a question lingers: Is Ethereum a buying opportunity?

Equivalent

Cameron Winklevoss stated that:

Ethereum was the best performing asset (up 450%) of 2020 hands down and still below its all-time high. Today it’s the equivalent of 15K Bitcoin I would take that bet all day long.

As a reminder, Ethereum’s all-time high, which it set in January 2018, was $1,432

$ETH to $1000 coming up!

— 🪓 Crypto Darkwolf 🐺 (@CryptoDarkwolf) January 3, 2021

It is true that in the midst of the Bitcoin madness, the threat of a Tether lawsuit (if Nouriel Roubini is to be believed) to set an example for all stablecoins, and the actual SEC lawsuit for Ripple, one would forget that in between all those coins there still is Ethereum.

Vitalik Buterin’s coin is laboring away and has recently rolled out phase 0 for Ethereum 2.0. Although it took a bit longer for Ethereum to get steaming ahead, this weekend has proved that $100 hordes can be quickly taken, so there is indeed no telling where it might stop.

On top of that, it remains the main DeFi platform and many other altcoins depend on Ethereum’s blockchain to perform their projects.

Lastly, Vitalik has gone from absolute tech geek to someone who cares for global politics and the environment.

With all that said and done, could 2021 become Ethereum’s year? Is it a buying opportunity, even at $1,000? Wait and see how many institutions come knocking at Vitalik’s door I’d say. Gemini’s endorsement looks like a good start.