empty
03.08.2021 11:21 PM
Bitcoin and Ethereum may renew their all-time highs this year

This image is no longer relevant

Ethereum and bitcoin have very good growth prospects. The second cryptocurrency showed a better week than bitcoin. Now ether is trading at the level of $2500, and its weekly growth was about 10%. Many institutions massively withdraw not only bitcoin, but also ethereum from their wallets. In August, the Ethereum London Hard Fork will take place. It can be observed that the balances of ethereum on crypto exchanges are globally decreasing.

Archived changes for the ether network should take place on this Hard Fork. Many are waiting for the release of ethereum 2.0 as manna from heaven, because they predict success and a palm tree on the crypto arena. Crypto enthusiasts want to see the updated and promised Proof-of-stake by Vitalik Buterin in order to completely abandon the Proof-of-work model, which is also used by bitcoin.

In 2019, the ether has already shown a significant jump in price, when it increased by 65% from May to July, the second case was recorded in 2020, when from March to July, the altcoin increased by almost 115%.

This is the coefficient of spent output profit, and following this uncomplicated trend, we can observe the growth of ether in action. According to the predictions of many analysts, in the 4th quarter of 2021, ethereum will cost 4000-5000 dollars.

As for the number one cryptocurrency, bitcoin tested the level of $41,900, but did not settle there and did not consolidate, and it fell again to $38,000.

Many experts predict that this year bitcoin will rise to its new record highs, and again it was not without the support of Elon Musk, Katie Wood, Jack Dorsey, Michael Saylor.

All these heavy figures in the crypto market constantly make clear arguments in favor of bitcoin and give forecasts regarding the number one cryptocurrency. Many analysts still believe that bitcoin is very undervalued and is worth at least 10 percent of its real value, and its real price is 350-400,000 dollars.

There is one very surprising fact that is worth paying attention to. Bitcoin exchange balances fell to the levels of 2020 and the first half of 2021. Only after that, it was possible to observe a sharp jump in the price of bitcoin, also the number one cryptocurrency has overcome all the moving averages and has now strengthened above these positions. Large institutions and humpback whales (who keep at least 1000 bitcoins on their accounts) continue to accumulate bitcoins and withdraw them to cold wallets.

Vitaly Kolesnikov,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
Vitaly Kolesnikov
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Bitcoin outpaces Amazon in terms of market cap

Bitcoin has reached a new all-time high near $122,000, surpassing Amazon in market capitalization. This event is undoubtedly a landmark moment in the history of cryptocurrencies and traditional finance

Jakub Novak 10:52 2025-07-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 14

Bitcoin hit another all-time high above $122,000, continuing its winning streak. Ethereum has also strengthened and is trading above $3,000, but has not yet reached the all-time high. Bitcoin's rally

Miroslaw Bawulski 09:53 2025-07-14 UTC+2

Bitcoin Forecast for July 14, 2025

Bitcoin Bitcoin is showing extreme boldness amid the general market sentiment of risk aversion. However, if such sentiment continues, the upper limit of Bitcoin's growth also becomes visible — 125,190

Laurie Bailey 05:31 2025-07-14 UTC+2

Litecoin is attempting to test its nearest resistance level, Friday, July 11, 2025.

Litecoin, Friday, July 11, 2025. Litecoin managed to break through and close above its pivot level. Although there is potential for a correction, positive fundamental factors provide an opportunity

Arief Makmur 08:00 2025-07-11 UTC+2

Trading tips for crypto market on July 10 (North American session)

Bitcoin and Ethereum traded higher today during the European session, which indicates that yesterday's purchases were not a one-time event and that buyers are still active in the market. This

Miroslaw Bawulski 16:25 2025-07-10 UTC+2

Crypto market shows extremely low volatility

Bitcoin volatility has dropped to a historic low, while Bitcoin itself is trading within 2% of its all-time high. The lack of willingness to buy at current prices could become

Jakub Novak 13:46 2025-07-09 UTC+2

Crypto market resilient despite dollar volatility

BTC/USD is rising again today after yesterday's dip, overall maintaining its bullish momentum. Fundamentally, conditions continue to support BTC/USD growth in the medium term. The global economic and market landscape

Jurij Tolin 14:14 2025-07-08 UTC+2

Japan's digital bank by Metaplanet

While Bitcoin stubbornly refuses to decline, fueled by massive demand from ETF funds, the Japanese firm Metaplanet is planning to use its Bitcoin reserves to create the first digital bank

Jakub Novak 13:46 2025-07-08 UTC+2

Trading tips for crypto market on July 8

Both Bitcoin and Ethereum remain on a sound footing, poised to continue a bullish trend. As long as BTC continues trading above the $105,000 mark, the odds of further growth

Miroslaw Bawulski 12:16 2025-07-08 UTC+2

Clarity act on digital asset market gains support

Bitcoin and Ethereum have returned to the channels in which they spent most of last week. While Bitcoin has yet to break above the $109,000 mark, the prospects

Jakub Novak 11:00 2025-07-08 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.