Ethereum price forecast for 2021

Von Sophie Müller

has been talking about the "FiChras", but will ETH finally overtake BTC this summer?

Bitcoin may be the biggest token in the cryptocurrency area, but Ethereum definitely gives the market leader a run for his money. The two are often mentioned at the same time these days, and Ethereum has been conveniently established in terms of market penetration and capitalization as the second largest cryptocurrency.

This made Ethereum popular with trade, so in this article we will evaluate the prospects of the prices of Ethereum on the 2021 market.

Current Ethereum Prize

Ethereum enjoyed an incredibly cheap trading period and has increased its value by more than ten times in the past 12 months. However, the cryptocurrency has recently experienced a correction, which means that it has moved in a kind of microbar market in recent months.

At the time of writing, the price of Ethereum is just over $ 2,600, which is an absolutely massive increase compared to the trading price of almost $ 250 a year ago. Ethereum has been so successful in the past few months that his market capitalization has clearly closed the gap to Bitcoin and is now evaluated with half of the market leader. His trading volume is now almost identical to that of Bitcoin.

Ethereum has benefited from financial inflows into its decentralized ecosystem. Ethereum is the most preferred platform from defi developers, and this should be of great advantage for the future coin.

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Source: Münzbasis

Ethereum price forecast

The technical analysis of Ethereum indicates that the old coin may have entered a bullish pattern. A hammer candle on the 12-hour ETH Chart has recently started, and technical analysts believe that this means that Ethereum is ready to start its recent increase in value.

If this rally stops, we can assume that the Ethereum Prize escalates to around $ 3,000 in the foreseeable future. Many market analysts have predicted this as a possible resistance point for the token because it begins its constant increase in its maximum value.

It is also noteworthy that the number of active addresses involved in Ethereum transactions has decreased by around 30 % in the past few weeks. This indicates a decline in trade, which may not be very positive for Ethereum, although the price has recently recovered.

But there are also other social factors that could influence the value of Ethereum. The recovery from Covid pandemic is anything but safe, and this will undoubtedly have an impact on the market for cryptocurrencies in general. Ethereum definitely benefited from the testing financial climate in 2020, and although there was a certain recovery, the further path remains uncertain.

This should be bullish for cryptocurrencies in general, and Ethereum will probably be one of the greatest recipients due to its sublime status.

The sentiment Market Value / Realized Value, a key figure that measures whether raw materials are under or overvalued, also points out that Ethereum may rise again. Since institutional money flows back into this token, we will probably experience a price increase from Ethereum before the end of 2021.

Ethereum price finding in June

Every investor who wants to act cryptocurrencies must accept that the market is a little more volatile than many traditional trading platforms. This is one of the reasons why cryptocurrencies have made massive headlines. The journey of those who invest in cryptocurrencies was sometimes quite dramatic.

Source: Münzbasis

This has led to enormous increases in value for cryptocurrencies and also to considerable corrections. And both occurred in 2020 and 2021! For the first time we experienced one of the most exciting bull markets in the history of cryptocurrency, in which both Ethereum and Bitcoin achieved unannounced maximum.

In the past few weeks, however, there has been a correction at Ethereum, with over $ 1 trillion from the entire cryptocurrency market. Nevertheless, market observers suspect that this will be a temporary scenario and that large cryptocurrencies such as Ethereum will again gain value in the foreseeable future.

In fact, one of the greatest advantages for Ethereum is that Wall Street Investment Bank Goldman Sachs believes that the token Bitcoin could finally overtake. A leaked report by the financial institution showed that Ethereum has a "high chance" to overtake Bitcoin as a "dominant" value preservation; This reflects the extent in which Ethereum has recently closed the gap.

Makro-Investor Raoul Pal Switch and expect Ether to recover the cryptoma market. A leaked paper by Bloomberg also prognosted in this Summer the market capitalization of Bitcoin will "turn".

The negative headlines in the media, which Bitcoin used to maintain its mining, have undoubtedly had a major impact on the currency. This could be an opportunity for Ethereum to grow even more exponential than was previously possible.

It is certainly exciting for Ethereum that the mainstream finance institutes now take cryptocurrencies seriously. Decentralized financing has become a huge market, and new innovations appear almost monthly. Goldman Sachs described the fact that Ethereum is an important platform for non-fungible tokens: "The Ethereum ecosystem supports smart contracts and offers a way to create new applications on its platform", and also finds that more decentralized financial applications are built on the Ethereum network than any other blockchain.

Overall, the prospects for Ethereum are extremely positive, and it would not be surprising if June were the month in which it started to rise to new highs. A target of $ 3,000 for the end of the month appears very reasonable, while a new one could even be high in the event of a quick relaxation. In the eyes of most experts, the macro target for this cycle remain $ 10,000.

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Source: Coinlist.me