The impulsive move by Ethereum can take its value to new heights. Analysts have said that Ethereum can touch the $6K to $14k Range. Analysts say ETH’s breakout to a new all-time high is just the beginning. The cryptocurrency’s pattern shows that it can touch the $14k mark in the future. Even this is not enough further peaks can be reached.
The Crypto market has touched new heights from the start of November. Bitcoin and Etehreum both have touched new heights. The multiple crypto tokens including Bitcoin (BTC), Etehreum (ETH), and Shiba (Shib) all have touched the new prices. Especially Etehreum and Bitcoin, Ethereum touched $4,500 level and Bitcoin touched $64,000 level.
The recent rise in Etehreum’s price is due to the company’s launch of the Ethereum 2.0 blockchain. With the release of Ethereum 2.0, ETH2 has burned almost 8 million Ether tokens from the market and staked them into Ethereum 2.0.
One of the biggest benefits of ETH2 is it provides unparalleled security, it is also the most economical exchange which will charge less service fee. Data collected from Cointelegraph Markets Pro and TradingView has shown that since the currency touched its low $2,780 on Sept. 29, the price has almost gone up to 62.54% in quite a shorter period of time. As of this writing, the token is being traded at around $4,523.
Financial analysts and crypto analysts have their own opinion about Etehreum’s price hike. A large number of experts have said that Etehreum can touch the $6k mark in near future. Even this would not be enough. Ethereum can move further upward.
Michaël van de Poppe, a renowned Cointelegraph contributor has predicted Ethereum’s price hike. He said that Ethereum can go up from $6,000 to $6,400.However, this surge can peak between November 2021 and January 2022.
In addition to that analysts do believe that Eethreum in the future would emerge as the most stable cryptocurrency and in the long run of time, it can also replace Bitcoin as the world’s most prestigious cryptocurrency.
On the other hand, private and institutional investors are keenly showing their interest in Ethereum. In the future, Ether’s demand can reach an all-time high.
Ethereum is making new ATHs. All those investors who have been waiting to invest in Ethereum would soon find themselves in an ideal position to buy these ATH. Another breakout is on the verge and it can happen sooner than expected.
It seems that Eethreum 2.0 has boosted Eethreum, according to some experts Eethereum can also touch the $14000 mark over the next 12 to 24 months. The overall cryptocurrency market cap now stands at $2.728 trillion and Ethereum’s dominance rate is 19.4%.
