A recent report from a top-tier bank has sparked waves of excitement in the crypto community with its bold prediction regarding the growth of ethereum (eth).
Standard Chartered has suggested that a potential rise of over 2000% could be on the cards for eth, attracting the attention of investors around the world.
This bullish sentiment around eth has also left investors wondering if other tokens, such as bitcoin Minetrix (BTCMTX), could also be poised for considerable gains in the coming year.
eth in precarious position as price reaches critical support level
ethereum is currently facing a difficult situation, with the token price on the verge of a break below the crucial $1,500 support level.
After a brief recovery in late September, eth rejected the 50-day EMA near $1,735, triggering a strong downtrend.
Now that eth is just above $1,500, any drop below could trigger an even steeper decline.
If you look at the 4-hour chart, eth is stuck in a falling wedge pattern, with clear lower highs and lower lows.
Meanwhile, CoinGlass chain data shows that the 4-hour short volume has increased by 137% to $1.24 billion, indicating bearish sentiment among traders.
Overall, ethereum is clearly at a major inflection point, and the coming days will likely decide whether bulls or bears will be in control and where eth will head in the remaining months of 2023.
Standard Chartered predicts bright future for ethereum
Even with ethereum caught in a web of uncertainty, bullish predictions for the world’s second-largest cryptocurrency keep coming.
The latest prediction from Standard Chartered Bank predicted that eth could soar over 2000% in the coming years.
The UK-based financial giant predicts that ethereum will reach $8,000 by the end of 2026, representing a 419% increase from current levels near $1,500.
Driving this price increase are real-world use cases emerging in gaming, NFTs, decentralized finance (DeFi), and enterprise adoption, cementing eth‘s dominance as the world’s leading smart contract platform.
Longer term, Standard Chartered predicts that ethereum could reach between $26,000 and $35,000, a staggering 2,173% increase.
ethereum.org/en/roadmap/danksharding/” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>Updates like proto-danksharding in 2024 they are expected to boost ethereum‘s capabilities and justify higher valuations for eth.
With major banks like Standard Chartered now demanding colossal eth price targets like these, the stage seems set for ethereum to become a key player in the financial and technology landscape.
Is bitcoin Minetrix the next token ready to take off after raising $1.2 million?
After ethereum, there is another trending token that is catching the attention of the crypto community:ethereum-price-will-rise-over-2000-could-bitcoin-minetrix-also-be-set-to-pump” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”> bitcoin Minetrix (BTCMTX).
This innovative project is gaining attention as a potential rising star thanks to its unique “Stake-to-Mine” model, which allows token holders to earn btc rewards without the need for mining hardware.
Hosted on the ethereum Blockchain, BTCMTX Promises Returns up to 488% annually for bettors, much higher than most comparative betting protocols.
Once the platform is launched, participants will benefit doubly, earning BTCMTX tokens and btc payments through the Stake-to-Mine setup.
Given the upcoming bitcoin halving event in 2024, bitcoin Minetrix’s unique approach could increase potential rewards for cryptocurrency enthusiasts.
The promise of doubling revenue has created considerable buzz around the bitcoin Minetrix pre-sale, helping it raise $1.2 million in just over three weeks.
The bitcoin Minetrix pre-sale will feature ten stages, each with an increasing price for BTCMTX, meaning the earlier investors get in, the lower the price they will get.
Adding to the attractiveness of the pre-sale is that the Minetrix bitcoin platform has been exhaustively audited by Coinsultone of the world’s leading blockchain security companies.
The bitcoin Minetrix team is even hosting a $30,000 “Minedrop” giveaway, where ten lucky winners will each walk away with $3,000 in BTCMTX tokens.
With big names in the crypto space backing BTCMTX and its ability to decentralize the cryptocurrency mining process, bitcoin Minetrix is being touted as the next token on the verge of a massive pump.
ethereum-price-will-rise-over-2000-could-bitcoin-minetrix-also-be-set-to-pump” data-wpel-link=”exclude” target=”_blank” rel=”nofollow noopener noreferrer”>Visit the bitcoin Minetrix pre-sale
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