Ethereum Price Prediction and Forecast: What Changed for Ethereum Since July?
Ethereum and Bitcoin were on the verge of dropping in mid-July. However, the following cryptocurrency companies managed to swing the situation and changed the dynamics of the market. Since that period, the market for Ethereum has been very steady and also in the favour of the bulls. At the end of August, the market saw a 93% rally high in Ethereum and a 76% rally in Bitcoin.
The rally started hitting lows in July during the time of the “The B Word” seminar. Dignities like Ark’s Cathie Wood, Tesla’s (TSLA) – Elon Musk, and Square’s (SQ) – Jack Dorsey were invited as the speakers at the conference. It will be safe to say that the aforementioned trio precisely saved Bitcoin and other cryptocurrencies, at least for now.
With Bitcoin still seeming to struggle with the $50,000 level, Ethereum shows the potential to grow further in the market. As of today, Ethereum is reportedly hitting its highest rally since May. Investors might think of going big for Ethereum.
Since the conference in July, Ethereum roistered a bullish run. Ethereum rallied in a total of 16 of 18 sessions after the mentioned conference. Ethereum experienced only 0.22% in July despite the decline that day. The following decline handed buyers a mega opportunity to buy more shares. However, Ethereum was seen struggling recently with the $3,300 level and the 61.8% retracement which was near $3,355.