A recent report from a high-profile bank sent waves of excitement through the cryptocurrency community with its bold prediction for the growth of Ethereum (ETH).
Standard Chartered Bank has suggested that there is a potential increase of more than 2,000% in ETH – sparking the attention of investors around the world.
This bullish sentiment around ETH has also left investors wondering if other tokens, such as Bitcoin Minetrix (BTCMTX), may also be poised for big gains in the coming year.
ETH is in a risky situation with the price reaching a critical support level
Ethereum is currently facing a difficult situation, with the token’s price hovering on the brink of a collapse below the crucial support level at $1,500.
After a brief rebound in late September, ETH rejected the 50-day Exponential Moving Average (EMA) near $1,735, sparking a sharp downtrend.
Now that ETH price is just above $1,500, any break below could lead to a steeper decline.
Looking at the 4-hour chart, ETH is trapped in a falling wedge pattern, characterized by lower highs and lower lows.
while, On-chain data from CoinGlass It shows that 4-hour short selling volume increased by 137% to $1.24 billion, indicating bearish sentiment among traders.
Overall, it is clear that Ethereum is at a major inflection point, and the next few days will likely decide whether the bulls or bears take control – and where Ethereum will head in the remaining months of 2023.
Standard Chartered Bank predicts a bright future for Ethereum
Even with Ethereum stuck in a web of uncertainty, the bullish outlook for the world’s second-largest cryptocurrency continues to unfold.
The latest forecast from Standard Chartered Bank predicts that the price of ETH could reach more than 2,000% in the coming years.
The UK-based financial giant expects the price of Ethereum to reach $8,000 by the end of 2026, which represents a 419% increase from current levels near $1,500.
This price rise is being driven by emerging real-world use cases in gaming, NFTs, decentralized finance (DeFi), and enterprise adoption – cementing ETH’s dominance as the world’s leading smart contract platform.
In the long term, Standard Chartered expects Ethereum to reach between $26,000 and $35,000, a staggering 2,173% rise.
Upgrades like proto-danksharding In 2024, this is expected to boost Ethereum’s capabilities and justify higher valuations for ETH.
With major banks like Standard Chartered now demanding massive price targets for Ethereum like these, the stage appears to be set for Ethereum to become a major player in the financial and technology landscape.
Is Bitcoin Minetrix the next token to raise after raising $1.2 million?
After Ethereum, there is another token that is attracting the attention of the cryptocurrency community – Bitcoin Maintrix (BTCMTX).
This innovative project is drawing attention as a potential star thanks to its unique “Stake-to-Mine” model, which allows token holders to earn BTC rewards without the need for mining hardware.
It is hosted on the Ethereum blockchain, and BTCMTX promises returns Up to 488% annually For participants – much higher than most comparable staking protocols.
Once the platform is launched, stakeholders will benefit doubly, as they will receive both BTCMTX tokens and BTC payouts through a Stake-to-Mine setup.
With the next Bitcoin halving occurring in 2024, Bitcoin Minetrix’s unique approach could boost the potential rewards for cryptocurrency enthusiasts.
The promise of double income generated buzz around the Bitcoin Minetrix presale, helping it raise $1.2 million in just over three weeks.
The Bitcoin Minetrix presale will include ten stages, each with an increasingly higher price point for BTCMTX – meaning the earlier investors get in, the lower the price they will secure.
Adding to the appeal of the pre-roll is that the Bitcoin Minetrix platform was as well It has been comprehensively audited by Coinsultone of the world’s leading blockchain security companies.
The Bitcoin Minetrix team is also hosting a $30,000 “Minedrop” giveaway, where ten lucky winners will each receive $3,000 worth of BTCMTX tokens.
With big names in the cryptocurrency space endorsing BTCMTX With its ability to decentralize the cryptocurrency mining process, Bitcoin Minetrix is being touted as the next token on the verge of a massive pump.
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