• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Traders Eye Continuation For Ethereum Toward $900 After ETH2 Launch

Nick Chong by Nick Chong
2 years ago
in Ethereum
0
Advertisement
  • Ethereum is expected to shoot higher in the weeks ahead despite the recent price consolidation.
  • The cryptocurrency has held well in the high-$500s despite some downward pressure in the Bitcoin price.
  • Analysts think that ETH could push toward $900 and beyond in the near future, especially due to the positive fundamental event of the ETH2 launch.
  • Boosting Ethereum’s prospects, analysts are also bullish on Bitcoin.

Ethereum Could Shoot Even Higher, Leading Analysts Say

Ethereum is expected to shoot higher in the weeks ahead despite the recent price consolidation. The coin has maintained the high-$500s, holding below its year-to-date highs of $620.

One leading crypto-asset analyst thinks that this may be a precursor to a strong upward breakout. He recently shared the chart below, which shows that Ethereum is consolidating above a key support level on its macro chart. This consolidation could be a precursor to a breakout toward $900, the analyst believes.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Boosting Ethereum’s prospects, analysts are also bullish on Bitcoin. BTC is expected to push higher as institutional players continue to embrace this space. This buying pressure from Wall Street will drive Bitcoin toward $100,000, say some investors, such as the CIO of Off the Chain Capital and Preston Pysh, a financial analyst.

Image

Chart of ETH's price action over the past few years with an analysis by crypto trader Cactus (TheCryptoCactus on Twitter).
Source: ETHUSD from TradingView.com

Fundamentals Bullish

The expectations of a strong Ethereum rally come as the ETH2 upgrade has finally been rolled out. The first phase of the upgrade launched on December 1st, giving users the ability to stake their coins in exchange for rewards should they maintain their nodes correctly.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Analysts think that this upgrade will result in a decrease in the issuance of Ethereum. This should help to increase prices in the long run, assuming that demand is consistent or grows to meet this shrinking demand.

As Messari analysts wrote about the potential effects of the upgrade on the Ethereum supply:

“Further reducing the potential issuance of ETH 2.0 until Phase 1.5 are the likely shape of the staking adoption curve, validator performance, and transaction fee burns (EIP 1559). Staking participation will likely start low and increase over time as holders gradually become more comfortable with the Beacon Chain and deposit more ETH into the deposit contract. The result of these three factors is that net issuance from ETH 2.0 could be significantly lower than what’s projected on the above chart.”

Analysts are also optimistic that ETH2 will mark a decisive upgrade for the usage of the protocol. This improved user experience could also drive further grow in the Ethereum ecosystem over time.

Featured Image from Shutterstock
Price tags: ethusd, ethbtc
Charts from TradingView.com
Macro Analysis Predicts Bitcoin Has Begun Rally Toward $100k
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for many years now. My pieces and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Related Posts

GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

GPU Prices Decline 57% Since Jan As Ethereum Mining Profits Go Down

1 hour ago
Snoop Dogg NFT

Snoop Dogg Still Bullish On Ethereum Despite NFT Trades Declining 70%

2 days ago
Ethereum

Ethereum Energy Consumption Sees Sharp Decline As Mining Profitability Drops

6 days ago
Morgan Stanley: Ethereum 2.0 Launch May Reduce Demand For GPUs

Morgan Stanley: Ethereum 2.0 Launch May Reduce Demand For GPUs

6 days ago
Ethereum

The Metric That Says A Further 50% Drawdown For Ethereum Is Possible

6 days ago
Hackers Ethereum

How This Ethereum Lending Platform Was Attacked And Made A Deal With The Hacker

6 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.