The biggest altcoin on Ethereum Shanghai ETH price continues to rise with less than two weeks to go.
Rising to the highest level in the last eight months Ethereumleading cryptocurrency Bitcoin’I left behind on the rise.
For ETH increased by 3.44% in the last 24 hours BTC rose 0.20%.
Ethereum hit $1,873, its highest level since August. ETH/BTC rate rose to 0.066.
Ethereum bitcoin He managed to rise above an important resistance zone against him. While the rise in Ethereum has encouraged other altcoins, investors have also increased expectations that altcoins will experience an intermediate rally.
According to the report of Coindesk, Lewis Harland, portfolio manager of Decentral Park Capital, which evaluates Ethereum and the Shanghai upgrade, said that the valuation of ETH against Bitcoin is related to the Shanghai upgrade, adding:
“Ethereum’s tremendous performance is due to less than two weeks before its Shanghai upgrade.
The Shanghai update is seen as a bullish catalyst for ETH.
We see ETH trying to gain value against Bitcoin as part of the game in April, when cryptocurrencies have historically generally risen.”
At the time of writing, Ethereum continues to trade at $1,865.
Around 16 million ETH will be unlocked in the Shanghai upgrade. How these ETHs will affect risk appetite on Ethereum remains unclear for now.
In the case of Ethereum, taking some profit in the period after April 10 and watching how the market will react to the update on April 12 may be a better option for investors who do not want to take risks.
*Not investment advice.
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