Ethereum course in front of a new annual high? Analysts expect positive development thanks to Bitcoin boom and layer 2 solutions
Ethereum course in front of a new annual high? Analysts expect positive development thanks to Bitcoin boom and layer 2 solutions
Since the Shanghai upgrade in April, Ethereum has difficulty taking off again. The ether course reached an annual high of $ 2,137 in April after the success of the upgrade was announced. But since then the air has been somehow out and the euphoria surrounding the judgment in the SEC case against Ripple was not able to keep the course of the second largest cryptocurrency over the $ 2,000 mark. The question now is whether Ethereum will be able to achieve a new annual high in this quarter.
In contrast to many other old coins, Ethereum was able to achieve a new annual high with the increase to a little more than $ 2,000. In the last 7 days, the ether course has fallen by more than 5 %, similar to many other top coins. Nevertheless, there is reason for hope, especially because of the bullish developments around Bitcoin, which often pull up the entire cryptoma market. The investors are slowly preparing for the next halving of Bitcoin and the approved Bitcoin ETFs should help to develop the BTC course positively and also benefit Ethereum from it.In addition, the work on Layer 2 solutions that increase the transaction rate at Ethereum and enable transactions at lower costs could have a significant effect in the medium and long term. Currently, the low transaction rate and the exploding costs are the largest weaknesses of Ethereum with strong network utilization. If it is possible to solve these problems, Ethereum and thus Ether could be a great future. A price of $ 10,000 for an ether cannot then be ruled out. Until then, the chances are good that the annual high of $ 2,137 will survive until September.
In order to achieve this, however, the EMA20 would first have to be exceeded at $ 1,895. However, the most important resistance lies around the psychologically important $ 2,000 brand. If it succeeds to overcome this sustainably, this could create enough dynamics to achieve a new annual high. We saw this in April when the course after the Shanghai upgrade was completed rose from 1,900 to $ 2,137 within just 4 days.
An interesting alternative investment option could be the new BTC20 token. The token is based on the idea of reconstructing the 2011 situation when Bitcoin rose to $ 1 for the first time. BTC20 is also available for $ 1 in the Presale and can be staked to generate a passive income. Similar to Bitcoin mining, a new batch of BTC20 token is also released every 10 minutes when a new block is found on the Bitcoin blockchain. The rewards for staks are paid out depending on the assignment and halved every 4 years, so it takes 120 years for all 21 million BTC20 tokens.
For those who wish the time back when Bitcoin was available for $ 1, the BTC20 token offers a second chance on the Ethereum blockchain. However, potential buyers should hurry up, since analysts are already predicting high price targets for BTC20 and the pre -sale should soon be over due to the current dynamics.
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