Aggregated cryptocurrency markets have surged alongside Ethereum (ETH) today, catching upward tailwinds made Bitcoin (BTC) boost to highs of $8,800. The rally pushed ETH to the $150 region to outperform BTC and a group of other major altcoins.
Ethereum’s latest bullishness and its capacity to maintain its price above the $120 region could open doors for further gains, which could push the digital coins to climb about 80% by the end of May this year.
The crypto is trading up to more than 7% at a price of $154, which marks a significant increase from its daily lows of $143 set yesterday.
It broke upward out of its consolidation phase at ETH, which entered last Friday. The movement led to sideways trading to about $144 for some days.
The boost also enabled Ethereum to show gains against the top cryptocurrency by market value. ETH is trading just under 2% against BTC.
Famous cryptocurrency analyst Mayne recently said he thinks Ethereum’s mid-term prospects are “incredibly bullish.” This might set a target of $280 for the currency in the next coming months through May.
He claims that ETH is preparing to “blow the top off.”
If his prediction proves accurate, the crypto might be able to see an 80% increase from its current price level, which could strengthen bull markets in the long term.
Other major altcoins are also seeing sizeable gains against Bitcoin, including Bitcoin Cash (BTC) and Bitcoin SV (BSV). The crypto coins surged 22% and 90%, respectively.
As Ethereum’s fame reaches above and beyond, investors are getting immensely excited over its new Ethereum 2.0 coming just a little later this year.
Potential updates to address current issues against the crypto includes scaling, mining, and security are in store for the next ETH.
The new version offers an all-in-one solution called Serenity, which is an idea of combining most Ethereum upgrade ideas into one. The solution will come with an all-new, separate blockchain that would run alongside to be fully compatible with the chain.
Once this version gets out, the time required to confirm an ETH transaction will drop from minutes to not more than six seconds at a time, which is just as long as it takes to swipe a credit card.
Developers still aren’t sure when they plan to release the version, but many traders believe it will step into the light in the second half of 2020.
On Thursday, oil prices were mixed amid speculation that the US would soon restock its…
Microsoft has inked a renewable energy deal with Brookfield Asset Management with hopes of powering…
Asian stocks traded higher on Friday, with the tech sector taking the lead following better-than-expected…
Tesla has reportedly retreated from its ambitious plan for innovations in gigacasting its developing manufacturing…
Dukascopy Bank SA noted a net profit of CHF 1.3 million last year amidst market…
On Wednesday, cocoa prices plunged after a liquidity crunch forced traders and speculators to postpone…
This website uses cookies.