Financial research firm Fundstrat, in its recently published note, is the second-largest cryptocurrency. EthereumHe estimates that the price of ‘s could reach $4,900 in the near future due to the growing decentralized finance industry.
If Ether manages to surpass the $4,030 price level, Ethereum bulls could hit an all-time high. In such a case, the renewed momentum could push the Bitcoin rival to new heights, according to the firm’s analysts:
“September highs are expected to be surpassed and all-time highs are expected to be accelerated.”
Ether briefly surpassed the $4,000 mark on September 3, before its price dropped nearly 33% in less than three weeks.
After lagging behind Bitcoin for several weeks, Ethereum is the biggest cryptocurrency in the last two days. unit has started to gain ground against its unit, and Fundstrat believes the growing market share could indicate the growing demand for crypto.
ETH hit the previous all-time high of $4,350 in May. and then slumped to $1,700 in just 12 days amid broader market sales.
For now, it has started a massive bullish move amid Bitcoin ETF rumors. Will Ethereum likewise follow its lead?
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.