Ethereum, the world’s second largest cryptocurrency, is fast approaching the success of its predecessor, and last week marked Ether’s all-time high.
Tokyo, Japan November 22, 2021 –(PR.com)– During twelve years of Bitcoin, hundreds of millions of coin owners around the globe have helped pave the way for other cryptocurrencies to emerge. Analysts at EM Braxton Universal reported that last week, the price of Ethereum grew to a new record high of above $4,700 after October saw a near 30% increase in the coin’s price.
Throughout the year, EM Braxton Universal analysts have noted that Ether’s price growth has been more rapid and expansive than that of bitcoin. Billionaire investor Mark Cuban, among other high-profile investors, has expressed his support for Ethereum, favoring the blockchain over other cryptocurrencies.
In a recent interview with CNBC, Make it Cuban said, “As an investment, I think ethereum has the most upside.”
With Ethereum on the rise, analysts at EM Braxton Universal say traders are preparing for substantial growth in the price of Ether. EM Braxton analysts believe their expectation is based on the prospect that Wall Street’s top securities regulator might put a US exchange traded fund into effect that will track Ethereum.
“Investors are betting that Ethereum’s price will expand over three-fold to $15.000 by March 2022,” says Mr. Yuki Morinaga, Chief Finance Officer at EM Braxton Universal. “Ethereum’s record highs last week came just after the confirmation of the first bitcoin-linked ETF.”
The Financial Times reported that the ETF pushed the price of bitcoin to a record high and pushed traders to bet on the possibility of an ETF linked to Ethereum.
EM Braxton Universal analysts say derivatives contracts are a hot commodity, allowing investors to purchase Ethereum at $15,000 in March 2022 whether or not the price rises above that number.
“Traders and investors are growing increasingly optimistic, and not without reason,” says Mr. Morinaga. “They are operating based on the SEC and the Commodity Futures Trading Commission, which have revealed their discernment alongside tolerance for cryptocurrencies and their related funds. Expecting an ETF for the second biggest cryptocurrency is not unrealistic.”
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