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Blog

Date:
04th Jan 2021
Author:
CryptoAltum Research Team

Ethereum Exponential Rise above 1k, a Whales Game?


Over the weekend, the Ethereum price added double digits, easing past $800 to peak at $978 and reaching $1.02k in the late New York Session. A feat, the exponential expansion once again highlights the position of ETH in the eyes of investors. In H1 2021, several fundamentals events are lined up; the activation of each would positively impact ETH, fanning the interest from HNWI that may, in turn, drive prices even higher.


Details: 

Ethereum is emerging as an alternative to Bitcoin for investors who think they are late on the crypto train. At spot rates, some analysts contend, scooping ETH is like buying BTC when it was trading below $10k. Accordingly, this could be the reason why ETH prices have been rising as traders position themselves for a moonsling, a milestone that may see ETH/USD prices "easily double" to $2k.


Impact on the ETH Price: 

Bullish. Different variables affect ETH/USD performance. One of them is its direct correlation with Bitcoin, perceived undervaluation, and supportive on-chain metrics. 


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