WARNING! Ethereum ETH Might hit an all-time high 15k This year on a Back of a Record-Breaking Bull Run if the Bitcoin trend continues.
By the end of 2020, we entered one of the biggest bull runs in the history of cryptocurrencies. Bitcoin has touched an all-time high because of strong investor sentiment and interest from institutional investors. Ethereum, the second-largest cryptocurrency in the market, is not far behind either. It is setting new records and has already crossed its previous all-time high.
“It may even shock the markets as no one expects Ethereum to achieve an all-time high of $15K so fast.”
The current momentum of the crypto bull run indicates that we are in it for a very long journey. It’s gonna be one hell of a journey where it is very likely that Ethereum will outrank Bitcoin in terms of price gains. If the current Bitcoin development continues, Ethereum might surprise many. It might hit an all-time high on the back of the current bulls-eye. It may even shock the markets as no one expects Ethereum to achieve an all-time high of $15K so fast.
What do Indicators Show?
All indicators show that the current performance of Ethereum will touch a figure that no one expected of it in their wildest dreams. When we compare the current patterns of Ethereum’s gains and compare it to the same patterns back from 2017, we find that Ethereum will achieve new heights in 2021. Its growth will be similar to that in 2021 but there will be one big difference.
Ethereum started its bull-run much higher this time and its supply is also higher this time. We expect that Ethereum could touch a figure as high as $10,000 to $15,000 in a very short time. Of course, it will depend on Bitcoin’s performance, as the growth in Bitcoin and Ethereum prices are somehow intertwined. If Bitcoin, as predicted, touches an all-time high of $50,000 to $70,000, there’s a real possibility that Ethereum’s prices will reach $10K-$15K.
Increasing Market Share of Decentralized Exchanges
Ethereum has maintained its position of being the third-largest cryptocurrency in the world. Throughout 2020, the Ethereum ecosystem was the focal point of the entire crypto world.
At the same time, decentralized exchanges started rising like never before. Uniswap, the most popular decentralized exchange, outranked the global centralized cryptocurrency exchanges like Coinbase in terms of trading volume. With the increasing market share of decentralized exchanges in 2021, the importance of Ethereum will keep on increasing. In turn, it will lead to an increase in the prices of Ethereum.
DeFi Will set new Records in 2021
2020 was rightly called the year of DeFi. Whatever we saw in 2020 was just the beginning of an epic run of DeFi that we will witness in 2021. As of now, the total amount locked in DeFi stands at over $19 billion. We expect that it will rise manifold in 2021 and set new records.
Now, you must be wondering – How would DeFi’s success contribute to Ethereum’s rise to $15K. Well, the reason is that most of the DeFi protocols are based on the Ethereum blockchain. With the growing number of DeFi users, we will see the Ethereum ecosystem expand further. Hence, the demand for Ethereum will also grow, which in turn, will lead to an increase in the prices of Ethereum.
Ethereum 2.0 – Last but not Least
The much-needed upgrade to Ethereum blockchain, Ethereum 2.0 will make Ethereum blockchain scalable. It began after more than 400,000 Ethereum were deposited to the contract address of ETH 2.0. Are you wondering about the particular impact of Ethereum 2.0?
Here’s something that you should know – the Ethereum blockchain was able to process less than 20 transactions before the implementation of ETH 2.0. But after the implementation of ETH 2.0, the Ethereum blockchain will be able to process thousands of transactions per second. Upcoming upgrades like sharding will increase it even further. With the improved performance of the Ethereum blockchain, we will see more users adopting Ethereum. It will again lead to an increase in the prices of Ethereum.
Multiple factors point to the fact that explosive growth in the prices of Ethereum is imminent. The market indicators also show that the bull run of 2021 will enable Ethereum to reach an all-time high of $15,000. There are other important factors as well. These factors will support Ethereum in achieving prices of $15K. It includes the increasing market share of DEX, the rising popularity of DeFi in 2021, and last but not the least, ETH 2.0. Well, are you holding onto your Ethereum? The Hashant team is holding onto ours for sure and bracing for the exciting journey ahead. Tighten your seat belt!