You can also find out more about the following: Ethereum Network underwent a drastic transition from proof-of-work Mining model to the proof-of-stake On September 15, 2022, the model will be implemented. This much-anticipated blockchain change, which has seen an astonishing 99.95% reduction in energy consumption, is bringing a new age of sustainability and eco-friendliness to the sector.
The second largest cryptocurrency, however, plummeted after the FTX crash in 2022, hitting a low around $1142 on November 22, 2022. ETH is still a significant gainer in price.
You would have bought $16,000 of Ethereum if you invested $1,000 in Ethereum each month from November 2022 to now. Portfolio value would however have risen by $31,024.33The spike was 93.90%. Your initial investment will have nearly doubled within 15 months.
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Ethereum can reach $4,000.
Analysts estimate that Ethereum’s value could rise to $3,800 in coming weeks if it can sustain its support. next Based on the Fibonacci Extension level of 1.618, an upward target for around $6 835 is possible. It would then be the next If the bullish momentum continues, then a key price benchmark will be reached. The prices may also correct or consolidate prior to any possible further upward movement.
Ethereum could see some downside if the current market conditions worsen again. The current indicators favor the bullish trend to continue through February.
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Ethereum has risen by 51% over the past 30 days, and 15% during the last 7 days. In the last day, ETH is up almost 5%.
Early technical clues confirm that history is repeating this cycle. The major upgrade Ethereum’s growth is set to continue with the ETH ETF.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
Source: watcher.guru