Is Ethereum Staging a Short-Term Rally - Price Analysis.
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2022-05-09 | Selina Mathew
What happens now that Ethereum has lost its chance to make a comeback?
Several factors, such as projections or political events, have a significant impact on the bitcoin market. Researchers and crypto experts have discovered, following multiple investigations and polls, that the first-mover cryptocurrency, Bitcoin, has significantly pushed crypto values. All cryptocurrencies, including Ethereum, are expected to decline by 2022. When the ETH token successfully broke the US$4,000 hurdle in 2021, the crypto reached new all-time highs. However, since the market crash in Q4 of 2021, Ethereum has been plagued by tremendous volatility.
Investors were looking for a strong rebound for this cryptocurrency, but things didn't go as planned, as a token is struggling to break through the US$3,000 hurdle. Because all cryptocurrencies are known to be connected, it should come as no surprise that ETH falls when BTC falls. Basically, Ethereum is known to offer higher returns than Bitcoin, but analysts believe that the crypto will soon collapse and investors will suffer significant losses because of the delay in Ethereum's upgrade, which is set to launch in Q3 of 2022.
Bitcoin is currently valued at roughly US$36,229, while Ethereum is valued at around US$2,700, according to coinmarketcap.
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ETH/USD 1 DAY PRICE CHART - SOURCE: COINMARKETCAP.COM
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