Ethereum (CCC:ETH-USD) is leading a pack of cryptocurrencies to new all-time highs simply one day ahead of a set up advancement update for the ether network. Dogecoin (CCC:DOGE-USD) and Bitcoin (CCC:BTC-USD) likewise rallied to new all-time highs today as cryptocurrencies rise ahead of Wednesday’s Coinbase (NASDAQ:COIN) IPO (initial public offering).
Source: Shutterstock Wednesday’s Berlin hard fork is an upgrade to the Ethereum network that will decrease fees for different deals. High GAS charges have actually been a big sticking point for the ethereum blockchain, especially as the buzz around non-fungible tokens swelled in the very first quarter of this year. Those deal fees have been an advantage for numerous rivals, but have recently declined as traders shift to a different type of bot for closing deals.
Nevertheless, the impending update isn’t the only great news for ether bulls. On Monday, Nvidia (NASDAQ:NVDA) tripled its expected 2022 Q1 revenue from sales of a cryptocurrency mining processor (CMP) developed for industrial ethereum mining. Then on Tuesday, Ethereum software application designer Consensys just raised $65 million in funding from a number of monetary players, including JP Morgan (NYSE:JPM) and MasterCard (NYSE:MA).
Speaking of financing, payment processor Visa (NYSE:V) just managed its first bitcoin payment a couple weeks ago. All of that comes against a wider background of increased investment in ether, with record trading volumes in ethereum futures last week.
Wednesday’s Berlin hard fork will be followed by a May 1 hard fork to introduce the EtherLite chain. By switching to a pure proof-of-stake agreement, transactions will be much quicker and more scalable. Transferring to proof-of-stake has actually been on the Ethereum roadmap for years, but might be fast-tracked for as soon as this year, though this would slash benefits for ether miners.
Ethereum (ETH) Price Forecasts
With Ethereum presently trading simply under $2,300, what will ether do next? Here are some Ethereum (ETH) cost forecasts:
- The other day, FXStreet stated a breakout above $2,200 would help press Ethereum to $2,400. Two days ago, the website said Ethereum could climb above $3,200 with adequate bullish buying.
- Benzinga states $2,700 will be the next major resistance level for Ethereum, based on historical data.
- Coinpedia has an extremely optimistic Ethereum (ETH) rate prediction, saying the token might see remarkable growth in costs to reach $10,000 prior to completion of 2021. They go on to state Ethereum might reach $25,000 by the end of 2022 and $50,000 by the end of 2025.
- Wallet Financier has an one-year forecast of $3,144 and a five-year forecast of $7,168 for Ethereum.
- Trading Beasts predicts Ethereum will end the year just under $2,000.
- Digital Coin Price has an Ethereum (ETH) price prediction of $3,224 by the end of 2021 and $6,969 by the end of 2025.
On the date of publication, Vivian Medithi did not have (either straight or indirectly) any positions in the securities discussed in this short article.
Article printed from InvestorPlace Media, https://investorplace.com/2021/04/ethereum-eth-price-predictions-where-will-eth-go-after-new-record-highs/.
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