As soon as May 2021, the market value over 9,000 coins had reached $2.5 trillion momentarily with investors continuing their craze for BTC, ETH and other cryptocurrencies.
The two major cryptos, Bitcoin and Ethereum, have had interesting weeks, especially the latter. Ethereum, the largest altcoin, has recently come out of its period of consolidation and has reported new heights over the last week. Year-to-date, Ether outperformed Bitcoin. The former increased almost 380 percent, with a 90-percent increase during the same timeframe from bitcoin.
The bullish narrative was very apparent because early April and the coin was very dynamic. Magnetic co-founder Megan Kaspar gave her bullish predictions on ETH in a recent interview with Yahoo Finance. At the end of the year, she anticipated an increase in Ethereum from $8,000 to $10,000. In addition, she recognized the new trends on the ETH network that added to the bullish theme. She said: She said:
“To prove the stakes for certification by blocks, carbon emissions are reduced by 99.9 per cent and ethereum becomes a renewable technology. This two network upgrades alone could get Bitcoin to a trillions of dollars market cap today
Kasper echoed her hope with respect to the institutional acceptance of Ethereum after the change, which would consume less resources.
“Investing in renewable green technology is mandatory by institutions, and that’s what Ethereum is doing. Sadly, the evidence of the job network is not provided by bitcoin until they decide to change as well,”
While Kasper took the carbon footprint of BTC, she remained bullish about the long-term price pattern of bitcoin. She added that $200,000 will potentially reach the world’s largest cryptocurrency by year’s end.
Ecoinmetrics, an analytical blockchain company, reported on the current period of BTC’s bull run. The company said “Good old phase of restructuring. Time to collect and wait for the next transfer.”
