Ethereum is soaring to new heights in recent times and the investors are going crazy over it. In fact, we know that the crypto market is a very volatile one. Here values change in the blink of an eye. Moreover, unlike the stock market crypto market never sleeps. As a result, it becomes a difficult place for investors to survive. In addition, the values of various cryptocurrencies have seen a downward trend in recent times. Therefore, it has been a troublesome time for crypto investors.
However, the recent progress of Ethereum has kindled new hope among investors. Ether has hit 8-month highs as Bitcoin gives way to Ether after a battle that has been going on since the beginning of 2022. Therefore, this has raised high hopes among investors.
However, some investors also remain doubtful as to the future of this growth. If you wish to know about the recent trend in Ethereum, this article is a perfect stop for you. Keep reading this article to know more about the issue.
What’s The News about Ethereum?
We have data from two sources that confirm the progress made by ETH/BTC. Both TradingView and Cointelegraph Markets Pro suggest that ETH/BTC successfully passed 0.08 BTC on Aug. 13. This is really an impressive feat for Ether. This is because the 0.075 zone is referred to as a problematic sell zone.
In fact, this very zone has been the point at which bulls had been kept under check since the beginning of the year. Therefore, this is indeed a great achievement for Ethereum.
However, ETH/BTC knows that it is necessary to maintain the newly acquired spot and develop from there. In fact, in an earlier report, Cointelegraph stated that ETH/USD passed $2,000 overnight. However, the investors are still worried about the longevity of this trend. Read Ethereum Price Prediction.
Despite the recent growth in Ethereum, various experts and analysts are calling for a cautious approach for the investors. For instance, trading firm QCP Capital recently issued an update to its Telegram channel subscribers. There, the trading firm called for a more cautious approach on the part of the investors in order to increase gains in the market.
In fact, this growth of Ethereum has been an unprecedented one. Therefore, it might be that another steep downtrend might also arrive unprecedented. Therefore, being cautious is always the better option here.