Ethereum is just 1.3% away from reaching its current $4k goal and is bullishly moving on its charts. After Bitcoin crossed its ATH value yesterday, Ethereum is expected to do the same, which is the target of $4,891.70.

Before that, will Ethereum get to hit $4k within this week? Or will the crypto be hit by the bear zone? Let’s talk about that in this blog.

Overview Of Ethereum Prices Over The Years

Ethereum peaked in its value around two and half years ago when it reached its all-time high value of  $4,891.70. It is currently trading at $3,807.73, just 22.75% away from ATH. The current Ethereum price has hiked more than 8% from yesterday and has a trading volume of $24,557,425,098.

Ethereum has displayed a great performance at the start of last month, where it has risen from a lower value of $2267 to most probably hit $4k. It is because ETH has just crossed the $3800 mark and settled at $3894 with a trading volume of $40.13 Billion yesterday after 21 months of being low.

The last time it was this high was on 5 January 2022, when it had dipped from the ATH value, and the analysts predict a new hike might happen in March. Such analysis depends on various factors and can manipulate the result because of volatility and market trends,

Factors That Will Lead Ethereum To $4K

According to Coinmarketcap, Ethereum is in the number 2 position for its market capitalization, which directly relates to the popularity of this cryptocurrency. Ethereum is considered the direct competitor of Bitcoin in terms of popularity and market impact. That helps us to understand the potential ETH carries and why the community expects it to exceed the $4K and the ATH value.

Two main factors that might push ETH to $4K are the Upcoming Ethereum ETF and the ongoing bullish market conditions. Ethereum ETF is currently on hold and is waiting for the SEC’s approval, which might happen soon.

ETF stands for Exchange Traded Funds, where the funds that mirror some assets get traded on exchange with lower chances of loss. Bitcoin ETF has already launched in the market and has gained massive success within just a few days. Recently, Bitcoin ETF reached $1 Billion in daily trading volume amidst the market crash. Bitcoin’s recent ATH success has been attributed to the Bitcoin ETF, and the same is anticipated to happen in the case of Ethereum on approval of the ETH ETF.

The other major factor is the Bullish market situation, as the crypto market is greedy, pushing the cryptos upwards. Ethereum has been bullish for months and is following an upward trend at the time of writing. If the market situation continues, a better might appear for ETH, pushing it to $4K.

Conclusion

Ethereum current price is closer to $4K. It might happen anytime soon now. The experts have predicted ETH to go over that within this week and aim for the ATH. Let’s see how the crypto market plays its cards for the next few days. Read more about why did crypto market crashed today.

The post Ethereum About To Hit $4K Against All Odds appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am