Bitcoin has been making progress since its mid-year crash and even managed to make a new all-time high of $67,000, but the biggest cryptocurrency by market cap has since been struggling between the 61k-to 63k range.
Even so, analysts are confident that $100,000 is an achievable target by year-end.
Meanwhile, Ethereum is making a more exciting bull run, as it has made several new highs in the past two weeks, topping $4,600, the second-largest cryptocurrency has gained over 140% in the last six months.
ETH’s gain recently could be attributed to the surging adoption of non-fungible tokens (NFT) and DeFi projects that run on the Ethereum network. For the past few months, non-fungible tokens have been a heated topic not only among the tech-savvy but also in traditional markets.
For instance, EA said NFTs could be an important part of the game industry. And Quentin Tarantino revealed his plan to mint seven “Pulp Fiction” scenes as NFTs. Projects like NFTs are penetrating into the everyday life of people, and the Ethereum network where these projects run naturally become even more promising.
In a YouTube talk, former Goldman Sachs executive Raoul Pal said that “Bitcoin just doesn’t have the network intensity that Ethereum does.”
Another factor that boosted the price of ETH is its burning mechanism following the recent Altair upgrade to the Beacon Chain. To date, more than 8 million Etheruem has been burned. While this doesn’t mean ETH will become a deflationary asset like Bitcoin, the full upgrade of ETH is expected to reduce gas fees, accelerate the speed and enhance network security.
At the moment, ETH is having minor corrections, but the market remains confident. In his tweets, cryptocurrency analyst Michaël van de Poppe said ETH could hit $6,000 soon, and later he commented that it would be trading at $20k soon.
How to maximize profit?
Do you think ETH could make a new high soon? If the answer is yes, don’t hesitate to take this opportunity. With futures trading, users can earn money from price swings and increase their exposure using leverage.
Bexplus offers 100x leverage in BTC, ETH, DOGE, ADA, and XRP futures contracts. Bexplus is trusted by over 800K traders around the world, including the USA, Japan, Korea, and Iran. No KYC, no deposit fee, traders can receive the most attentive services, including 24/7 customer support.
- 10 Free BTC for Simulated Trading
Bexplus users can get a demo account to simulate the real trading environment and strategy with 10 BTC. Users can practice trading skills and learn about how to analyze the market trend with the trading simulator. Even if users make wrong predictions and analyses, you will not lose a penny.
- BTC Wallet: up to 21% annualized interest without any risks
Bexplus users can gain profits not only from trading. Join the Bexplus wallet, users can earn up to 21% annualized interest without taking risks. With up to 21% annualized interest, it is no doubt one of the most profitable rates in the industry. While most lending platforms require traders to deposit at least 1 BTC, traders can make a deposit starting from 0.05 BTC on Bexplus.
- Trade freely on Android & iOS
The top-ranking Bexplus app integrates all the necessary functions and tools (real-time charts, a variety of indicators, news alerts, etc.) while keeping a minimalist and intuitive interface. With the Bexplus app, users can manage their accounts anywhere and anytime they want. Furthermore, the 24/7 notification could keep users updated with big price movements, making it easier to secure their positions.
If users are bullish on Bitcoin, they shouldn’t hesitate to join now and claim their 100% deposit bonus.