Would a Dream Become Real? Ethereum Could Reach This Level Before The Week Is Over - News-Credit-Mortgage-Coin


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Tuesday, February 9, 2021

Would a Dream Become Real? Ethereum Could Reach This Level Before The Week Is Over


Will new levels be in question for Ethereum this week? The narrative has been very similar for the two best digital assets in the market over the past few months.

Restoring the scale of the booming momentum in the market, Bitcoin investors were thrilled with Tesla's announcement. In this context, after Tesla announced its capital reserve investment of 7.7%, traders increased the buying pressure for the last 24 hours.

In fact, just a few hours later, Bitcoin reached a new high of over $ 48,000. Ethereum, on the other hand, has surpassed the highly anticipated $ 1,800 mark.

Expected Level for Ethereum

Both crypto assets are subject to minor corrections at the time of writing. The question is pertinent: Does Ethereum outperform its counterpart?

The attached chart highlights the percentage of growth recorded by both Bitcoin and Ethereum since their previous all-time highs. As you can see, Bitcoin's value has doubled since it exceeded $ 20,000. As a result, it increased by 133%.

Ethereum, on the other hand, grew 28% after surpassing the 2018 high of $ 1,440. Let's assume here that Ethereum also originated in an ATH range. It's a fact that it has a higher gap to fill in terms of price discovery. The outlook of the Ethereum ecosystem has also improved over the past 3 years.

Finally, Ethereum is currently in the process of migrating its network to a Proof-of-Stake system with more than $ 5 billion stakes in ETH.

Like Bitcoin, Ethereum has recorded high stock exits in the past 12 months. In this context, users keep the asset from a long-term perspective. At the same time, the growth of ETH 2.0 is another bright sign of trust in the world's largest altcoin project.

The Reason For The Next Leap For ETH!

With the launch of CME ETH futures, the window to the corporate space is now open. However, CoinShares' latest data shows that the asset class is already witnessing significant inflows.

According to the report in question, capital flows have been heavily concentrated in Ethereum last week (before the launch of CME Futures). As a result, investments worth close to $ 195 million flowed into Altcoin. In fact, ETH represented about 80% of total market entries, a share that included entities such as Grayscale, 3iQ, and 21Shares. The report said:

“We believe investors are looking for diversity and are becoming increasingly comfortable with Ethereum fundamentals.”

Could ETH Reach $ 2000 Before BTC Exceeds $ 50K?

Price judgment is not a race. However, the collective upward momentum could push ETH to over $ 2,000 by the end of this week. So much so that currently, market sentiment is extremely positive for both crypto assets. However, Ethereum is likely to have a better ROI overall.

Therefore, it will not be a surprise for Ethereum to exceed $ 2,000. In fact, there will be further price increases beyond this level.

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