The global crypto market is all geared up to extract maximum yields from the current year. Folks from the crypto town have been accumulating dips and are in a pursuit to retrieve the lost gains in the supercycle. Bitcoin and Ethereum continue to remain programmed digital assets to bag for the portfolio. Meanwhile, buyers have pinned hawk’s eye on Ethereum, as the protocol is set to welcome major upgrades for the year.
Moreover, the network’s diverse offerings are expected to portray greener candles. As the year and the future unfold arms for futuristic projects. Consecutively, Partisans pin optimistic hopes on ETH 2.0, whilst eyeing a run to $8,000. In addition, Ethereum’s fear and greed index weigh heavier on greed as the ETH price soars at a steady pace.
Is Ethereum Burning The Midnight Oil For A Parabolic Run?
The recent announcement coming from KPMG Canada, of the firm allocating Ethereum and Bitcoin to its corporate treasury. Has infused immense value to the two networks, and the industry in general. Ethereum being the choice of KPMG has brought in optimism in fellow altcoins.
Ethereum’s fear and greed index now weigh heavier on greed with a score of 57. As the ETH price continues to soar at a steady pace. In the interim, the fear and greed index of the entire crypto market is at its highest rate for over 80 days. The index is presently at neutral with a score of 54, which has risen from the previous day’s 48. The statistics suggest that Ethereum has been witnessing a higher influx of investments over the market.
Proponents hold an optimistic hope over the star altcoin Ethereum, considering the transition from PoW to PoS. Which comes with the release of the much-anticipated ETH 2.0 merger. Partisans are expecting, the merger to kickstart an extravagant bull run. As the hard fork, reduced gas fees, and increasing institutional investment would fuel the flight.
ETH price has recovered from the bottoms to current levels at a brisk pace, which is the fastest recovery rate from a bearish trend. In comparison to its average recovery rate of 165 days, as suggested by Arcane Research. Successively, if the merger happens in due course of time it could open up a parabolic run to levels around $7,000 to $8,000.
Summing up, the arrival of ETH 2.0 would clear the hurdles for the Web 3.0 world. Where Ethereum, could establish its hegemony against rivals. Since Web 3.0 is expected to be turntables for the crypto world and beyond. ETH 2.0 would help the network embrace the tech, which would eventually help compound prices to a 4-digit milestone.
Source: https://coinpedia.org/ethereum/eth-price-to-hit-8000-by-summer/