Ethereum Needs Only 20% to Return Back to ATH Numbers, But There’s Catch

AnalysisEthereum Needs Only 20% to Return Back to ATH...



Arman Shirinyan

If Ethereum spikes by another 20% against Bitcoin, we will see official return to ATH

Ethereumэs 20% price increase would put the second biggest cryptocurrency on the market back around the ATH zone, but only against Bitcoin and not USD.

Following the underperformance of Bitcoin against Ether, crypto #2 closed the gap with digital gold and recovered a large part of the previously lost growth. According to the chart shared by Blockware Analyst, Ethereum might enter the uptrend against BTC once again.

In only three days, Ethereum reached the price of 0.07 BTC per coin while previously trading around 0.05 BTC. Back in November, the market saw Ethereum at almost 0.1 BTC as the NFT and DeFi industry blossoming caused a massive dominance rally for the second biggest cryptocurrency on the market.

With the most recent rally, we might see Ethereum getting back on track against Bitcoin as the Merge update seems to attract more investors to the project compared to the relative absence of new inflows into Bitcoin.

Ads

In the last 24 hours, BTC had lost around 4% of its value while being rejected on the local resistance level. No signs of a major reversal for the digital gold are being shown.

Ethereum “Merge” rally

The majority of analysts believe that Ether’s rally is mostly based on the Merge update date disclosure, which is one of the biggest events to happen for Ethereum since implementation of the burning mechanism.

Industry experts believe that Ethereum’s PoW switch will attract more VC capital to projects related to the network and push for the further adoption of the decentralized technology in real-world projects.



Learn more

Latest news

AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

New ALBT tokens will be minted and airdropped to the affected wallet addresses. Learn more

How To Create A Strong Community To Boost Your Brand

CEO and cofounder of Corite, a startup that allows fans to invest in their favorite artists and share...

Elon Musk’s Twitter ‘Slaps’ Dogecoin (DOGE) Army, Here’s What Happened

Yuri Molchan Twitter has suspended tool that allowed users to tip each other on Twitter using Dogecoin Contents Twitter suspends Doge...

Frontier Airlines launches all-you-can-fly summer pass for $399

Frontier Airlines is launching a new all-you-can-fly summer pass allowing travelers unlimited flights over the warmer months for an...

Stocks moving in after hours: Meta, Elf, Align

Meta (META)Meta Platforms shares soared after the social media giant announced fourth quarter sales of $32.17 billion which...

Stock spikes after better-than-expected revenue, buyback announcement

Meta (META) reported its Q4 2022 earnings today after the bell, and the Facebook parent beat key revenue...

Must read

AllianceBlock Token Plunges 51% After $5M Exploit of Bonq DAO

New ALBT tokens will be minted and airdropped...

How To Create A Strong Community To Boost Your Brand

CEO and cofounder of Corite, a startup that...

Elon Musk’s Twitter ‘Slaps’ Dogecoin (DOGE) Army, Here’s What Happened

Yuri Molchan Twitter has suspended tool that allowed users...

You might also likeRELATED
Recommended to you