When Ethereum started touching the $3000, there were imminent talks regarding this cryptocurrency ending up with a bullish run that is going to take its price-performance charts over the roof. As it happens, these were not talks but an actual scenario Ethereum seems to be going through at the moment. Ethereum has only reached $3800 this Saturday, and the reason for this can be catered to the increased interest of the investors into the world’s largest altcoin, and other than that, the casual traders are shifting their investment and their time from Bitcoin and pouring it into Ethereum.
A Future Price Surge is Expected as a Bullish Run Remains Stuck with Etheruem
Given the current rollout of the Berlin upgrade that has effectively strengthened the overall functioning of the Ethereum blockchain, the overall activity of investors has increased for Ethereum’s Blockchain. This is a contributing factor for a sudden price increase, other than that the London upgrade is still bound to happen, which means that it is entirely possible for Ethereum to see some more trader-oriented interest in terms of overall trading over the course of the next few months.
The on-chain analytics of the Ethereum blockchain has confirmed that it has been hitting almost 16.5 transactions per second, according to Glassnode and a massive credit for that goes to the current decline among the gas prices that have really spiked up the number of transactions taking place on Ethereum’s blockchain.
Given the current price development, the investors are already willing to wait on their share of Ethereum as it would be unwise to go down with its selling at the current market price. The possibility is that the price will increase over time in the following months, so the only viable thing around that is to hold onto your particular stash of Ethereum.
This is exactly what most of these will end up doing, and that is vertigo in itself where the concentration rises to a certain limit, and the commodity that is being withheld becomes so scarce that this phenomenon in itself tunes up the price. Although these are mere speculations at the moment, possibly enough, this is how things are going to go down for Ethereum in the next few months.