Ethereum investors should be expecting a very great profit in the coming days following the great bullish run the cryptocurrency is in at the moment. The digital asset has been witnessing a new high daily since the start of the trading week and yesterday (Wednesday) was the climax of it all. It started the day at $700, and it managed to attain a very impressive new price of $1000 before the end of all business transactions for the day.
Considering the present Ethereum trading prowess in the industry and the recent crypto’s mainstream adoption among the public, analysts expect more of such record-breaking achievement in the foreseeable future. This latest high is a revelation of Ethereum’s new strength in the crypto space as it ensures it consolidates its place as the second most valuable and influential digital asset closely behind BTC.
Ethereum gains more ground against Bitcoin after weeks of underwhelming performance
With the recent run, the bull’s support region isn’t expected to be lower than a thousand dollars ($1000) for the time being if everything works put as expected. In the same crypto-enthusiasts think that the cryptocurrency is edging close to $1,175 — a high that can be reached by the end of Thursday’s transactions. Much attention isis paid to Bitcoin’s bullish due to its daily increase. The most valuable digital assets continue to set the industry’s pace, and it was given the attention it rightly deserves.
The closing period of last year also experienced a series of underwhelming performance from Ethereum, which further ensures that investors shifted their attention to BTC that promises more gain. However, that’s about to change as analysts are beginning to see why the digital asset would attract more investors in the coming days. The past few days, which have seen the cryptocurrency increased in price and value, means the digital asset is gaining more ground against the bullish Bitcoin.
Ethereum to attract new investors following a recent favorable run
Should it continue to maintain the 3% increase recorded on Wednesday, Ethereum won’t only maintain its consistency but also attract more investors in the long run. Meanwhile, Ethereum and other Altcoins are tipped to benefit from Bitcoin’s recent increased fame. According to a crypto trader, this is a moment of truth for all digital assets in which Ethereum can eventually break its all-time high record.
However, at the time of this report, Ethereum’s financial value is fixed at $1,218, but it is expected to enjoy another surge before the end of today’s business. As for Bitcoin, the cryptocurrency is presently placed at $37,590, as revealed by TradingView.
In other crypto news, Ripple has finally reacted to a lawsuit filed by SEC against XRP. In its latest statement, the network disclosed its desire to legally challenge the charge leveled against the company for illicit XRP trading. Having lost most of its investors and supports from many exchange platforms, the XRP founding company claimed that the lawsuit limits the performance of the digital asset and the overall development of the industry.