Price Analysis

Ethereum Price (ETH) Inches Closer to the $4k Mark! Institutional Investors seem Bullish

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Over the last 24 hours, the market has been in the green. Ethereum is up 4.04 percent, while Bitcoin is up 3.74 percent. Early on, the Ethereum cryptocurrency entered a little bullish phase, and the price of Ether appears to have breached the level of $3,800.

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In the previous few days, ETH has made a significant advance, and the coin is currently approaching a test of the $4k threshold. 

A several-day sluggish retreat from the barrier was visible to the $3,400 mark. A firm foundation was built earlier this week after multiple efforts to break lower.

According to popular analyst Michael van de Poppe, December is frequently the ideal time to buy altcoins. 

He claims that If history repeats itself, we might see a 200 percent run on $ETH/BTC towards the ATH region from there, but first there will be a larger pullback while #Bitcoin continues to perform well.

ETH Price to $4000!

Fundstrat, an independent financial research firm, has some exciting news for Ethereum fans. According to the firm’s technical research, Ethereum is on the verge of a massive bull run that will push it past previous all-time highs.

“Ethereum looks to be starting to gain on bitcoin after a near one-month period of underperformance throughout September.”

The crypto’s soaring market share, according to Fundstrat, will propel it over the psychologically significant $4,000 threshold. A convincing move above $4,030 would bolster the bulls, putting the coin on track for a new all-time high of $4,950. 

Crypto exchange Coinbase recorded a withdrawal of 400k Ethereum yesterday, according to on-chain data. This could be a hint of institutional investment activity, which would be good for the coin.

Approximately 400k ETH (1.5 billion at the current exchange rate) was removed from the crypto exchange Coinbase yesterday, according to a CryptoQuant report. 

The fact that institutional investors are bullish on ETH could spell disaster for the cryptocurrency. If ETH is to advance to the next level, it will require a significant amount of capital, which normally means that whales such as institutional investors will be required to participate.

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Disclaimer : The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of Coinpedia. Every investment and trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Delma Wilson

Delma is a B2B Content Marketer, Consultant, Blogger in the field of Blockchain, and Cryptocurrency. In her spare time, she loves to blog, play badminton and watch out ted talks. She likes pets and shares her free time with NGO.

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