ether (CCC:ETH-USD) takes a number of cryptocurrencies to new highs just one day before a planned development update for the Ether network. Dogecoin (CCC:DOGE-USD) and Bitcoin (CCC:BTC-USD) also rebounded to a new all-time high today as cryptocurrencies rise ahead of Wednesday Coinbase (NASDAQ:COIN) Initial public offering (initial public offering).
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The Berlin hard fork on Wednesday is an update to the Ethereum network that will lower the fees for various transactions. High GAS fees were a big sticking point for the Ethereum blockchain, especially as the hype about non-fungible tokens rose in the first quarter of this year. These transaction fees have been a boon to various competitors, but have recently declined as merchants switch to a different type of bot to complete transactions.
The upcoming update isn’t the only good news for Aether Bulls, however. On Monday, Nvidia (NASDAQ:NVDA) tripled its expected revenue in the first quarter of 2022 from the sale of a cryptocurrency mining processor (CMP) for industrial Ethereum mining. Then on Tuesday Ethereum software developer consensus I just raised $ 65 million from a number of financial players including JP Morgan (NYSE:JPM) and MasterCard (NYSE:MA).
Speaking of finances, payment processors Visa (NYSE:V.) just processed its first bitcoin payment a few weeks ago. All of this is against a broader backdrop of increased investment in ether with record trading volumes in Ethereum futures last week.
The hard fork in Berlin on Wednesday will be followed by a hard fork on May 1st to introduce the EtherLite chain. By moving to a pure proof-of-stake consensus, transactions will be much faster and more scalable. The transition to proof-of-stake has been on Ethereum’s roadmap for years, but it could be accelerated as early as this year, although it would limit the rewards for ether miners.
Price predictions for Ethereum (ETH)
What will Ether do next when Ethereum is currently trading just under $ 2,300? Here are some price predictions for Ethereum (ETH):
- Yesterday, FXStreet said a breakout above $ 2,200 would help push Ethereum to $ 2,400. Two days ago, the website announced that with enough bullish purchases, Ethereum could go above $ 3,200.
- Benzinga says $ 2,700 will be the next major resistance level for Ethereum based on historical data.
- Coinpedia has a very optimistic price forecast for Ethereum (ETH) that the token could see a dramatic price increase to $ 10,000 before the end of 2021. Ethereum could reach $ 25,000 by the end of 2022 and $ 50,000 by the end of 2050 in 2025.
- Wallet Investor has a one-year forecast of $ 3,144 and a five-year forecast of $ 7,168 for Ethereum.
- Trading Beasts predicts Ethereum will end the year at just under $ 2,000.
- Digital Coin Price has an Ethereum (ETH) price prediction of $ 3,224 by the end of 2021 and $ 6,969 by the end of 2025.
At the time of publication, Vivian Medithi had positions (neither directly nor indirectly) in the securities identified in this article.
Article printed by InvestorPlace Media, https://investorplace.com/2021/04/ethereum-eth-price-predictions-where-will-eth-go-after-new-record-highs/.
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