Ethereum (ETH), the second-largest cryptocurrency in the market is moving forward in the space and trying to capitalize on the current bull market that virtual currencies are forming. The main question that users are making is whether this virtual currency will be able to surpass its previous all-time high and reach to $2,000 in the future.
In this article, we will share with you what analysts consider that will happen with Ethereum and how they are getting prepared for the next bull market. Moreover, we will also explain to you how to better trade virtual currencies and how AltSignals could be a great option for you to improve your trading strategies.
Could Ethereum Reach $2,000?
Ethereum reached an all-time high of $1,400 back in January 2018, a few weeks after Bitcoin surged to $20,000. At that time, the market was very excited and Ethereum was very close to surpass Bitcoin as the largest cryptocurrency in the market. Although this didn’t happen it showed that Ethereum was also a powerful virtual currency.
Nowadays, with a new bull market being formed, traders are wondering whether it will be possible for Ethereum to surpass its previous all-time high and move towards $2,000. If we think about it, Bitcoin could also surpass its all-time high in the future.
The main difference is that Bitcoin is just 100% away from its all-time high and Ethereum would have to grow more than 400% from its current value.
According to the cryptocurrency analyst and expert Alunaut, Ethereum is entering a new bullish phase taking into account the Ichimoku Cloud. With this massive crossover, he showed that Bitcoin in the past moved from lows in 2016 to its all-time high in 2020.
— Alunaut 🌎 🚀 🌘 (@onemanatatime) February 21, 2020
Bitcoin Halving Event Influence On Ethereum
Analysts believe that the upcoming years are going to be bullish for the market. Specifically 2020 and 2021. If this is true, one of the main catalysts for this is going to be the new halving event that Bitcoin is going to experience as soon as in May 2020.
This halving is expected to reduce miners rewards by 50% from 12.5 BTC per block to 6.25 BTC per block. This is certainly going to have a positive effect in the future over the price of Bitcoin. If demand grows, it will also allow BTC to reach new highs.
Ethereum could also move forward in the space due to this reason. The current bull market related to Bitcoin’s halving could also affect Ethereum and push it to new highs.
For example, The Crypto Dog said that Bitcoin could be traded above $20,000 and this could be very bullish for altcoins in the future.
— The Crypto Dog📈 (@TheCryptoDog) February 23, 2020
If this happens, Ethereum could certainly surpass its previous all-time high of $1,400 and move towards $2,000.
Decentralized Finance (DeFi) and Ethereum 2.0
Decentralized Finance (DeFI) could be one of the most bullish things for Ethereum in the future. This market is expanding at very high rates and it may be possible for it to continue growing. The most popular applications of DeFi include Maker, Compound and Synthetix.
At the same time, the Ethereum 2.0 release is a bullish thing for traders and enthusiasts that are waiting for Ethereum to finally become a totally Proof-of-Stake (PoS) network. In the future, it may be possible for it to attract a larger number of users and individuals.
Both the DeFi market and the PoS Ethereum network could be the catalysts that combined with the halving event for Bitcoin would push ETH to $2,000.
AltSignals Crypto Trading Signals
AltSignals is one of the most popular crypto trading signals platforms in the market. With it, traders can easily improve their trading strategies over time and leverage their Ethereum positions in the future.
In this article, we shared with you some of the opinions provided by experts in the space about altcoins and Ethereum. Moreover, we have also shared with you which things to take into account that could affect Ethereum price in the future.
Disclaimer: the information provided in this article shouldn’t be considered investment advice. If you invest in virtual currencies request information from a financial expert and never reinvest more than what you are able to lose.