Will Ethereum be hitting USD 50k or not?
After the decline of prices in many cryptocurrencies including Bitcoin during this month, people are asking Will Ethereum Be Hitting USD 50k or not in the upcoming months or years. Well!!! To answer this question, there are several factors you should keep in your mind. It is possible that Ethereum will hit 50,000, but improbable. As we all know, Ethereum is the second-largest cryptocurrency after Bitcoin. To maintain its authenticity against other cryptos, it depends upon various factors especially trust from the conglomerates. The debate of whether or not Ethereum will be reaching $50k started after when Bitcoin first time reached its price of $56,000 in February 2021. After Bitcoin reached this price range, many experts, dataminers and investors started the debate of Ethereum getting this price as it is the second biggest cryptocurrency after Bitcoin.
Meanwhile, many experts believe that Bitcoin is consolidating. Therefore, Ethereum is touching record valuation. Not only this, but many investors are looking to Ethereum as their next most popular market to make high profits in the long term. Interestingly, the analysts, experts and dataminers recognize Bitcoin as digital gold whereas Ethereum as digital oil. It looks like the predictions were made after looking in the future as Bitcoin crossed $50,000 and Ethereum crossed $2,000 in the same month. In a conclusion, you need to understand the knowledge of cryptocurrencies before selling and buying your coins. Luckily, for those who are willing to invest in Ethereum, it has got some great potential for a good profit. Although a 50k Ethereum would put its market cap at astronomical levels, as per the reports.
Analysts and Ethereum:
Ethereum is the best reward for those who are willing to invest in crypto. Simon Dedic, Co-Founder of Blockfyre and also the Managing Partner at Moonrock Capital, claims that the price of Ethereum will go more than $9,000. Additionally, he also foresees an Ethereum price surge of more than $10,500 after leading in the third week of February 2021. On the other hand, James Todaro of Blacktown Capital predicts that Ethereum will move more than $9,000 in the next year. The analysis from James Todaro has been centred on the principles which could recognize the blockchain. The Ethereum market will become the next cryptocurrency’s market to surpass the $1 trillion mark after the Bitcoin market, he further added. According to analysts, Ethereum will be capitalizing the profit from its Decentralized Finance trend within its protocols. According to crypto analyst Andrew Keys, Ethereum will be among the respected cryptos as well as it will also be the alternative to the digital market.
Ethereum following Bitcoin:
Ethereum leads to follow Bitcoin after major investments, according to the sources. According to the experts, the price of Ethereum will increase to the heights of Bitcoin. Also, Ethereum is considered to be the alternative to Bitcoin. Therefore, the Ethereum price’ prediction tells us that it can hit the price range between USD 30k-50k. Moreover, the second-largest crypto coin after Bitcoin is following the same directions as its elder crypto sibling.
Unfortunately, Ethereum has failed to maintain its bullish drive this month. As a result, the price of Ethereum has started to fall. Many investors have sold out their wallet of Ethereum by seeing the decline of its price. On the other hand, those who know knowledge of the ups and downs of cryptocurrency have shown patience. It is a fact, whenever anything goes up it will definitely fall. So there’s don’t need to worry about decreasing the price of it. Meanwhile, Bitcoin has affected the entire environment, including the Ethereum market due to the sell-off by the investors.
Ethereum price prediction:
In February, Ethereum dropped its price to $2,000 following the Bitcoin. After its decline in February, Ethereum gained its high price in the third week of the month. However, in April, the price again rose. On May 06, 2021, Ethereum’s price hit a new record of $3,598. The second-largest cryptocurrency in the world gained nearly 390% in the first quarter of this year. Unfortunately, on 7 May, its price declined a little and started trade at $3,430. As a reminder, Ethereum’s price has dropped as said above. Currently, it is trading at the price of $1,558. Surprisingly, the price has grown by 23.43 per cent in the last two weeks. After Bitcoin reached $56,000 for the first time in February, more investors and experts believed that the price of Ethereum will also get equal hype.
As a reminder, currently, Ethereum is facing a tough week in terms of its stocks and investment. However, such a situation was expected as the crypto asset has been soared to new achievements. Digital currency (such as Bitcoin and Ethereum) has attracted many investors. Furthermore, these digital currencies have gained a noticeable spot in the investment markets. Usually, these currencies are attracting large entrepreneurs or celebrities for investment. Notably, approximately 3 million Ethereum coins have been expressed in fiat currency as $3.8 billion. Also, it has been secured up for long-term staking.