ETH - Can Ethereum Reach $4000 Again?
2023-03-12 11:13:00 ET
Although it might feel like eons, it was just a year and a half ago when Ethereum (CRYPTO: ETH) reached its all-time high of $4,644.33. Since then, a brutal crypto winter has left its mark on the industry as the entire landscape has changed dramatically. In the midst of this bear market, Ethereum lost more than 75% of its value at one point. Despite this drastic pullback, there is plenty of reason to believe that Ethereum could once again return to those previous all-time highs.
One of the primary reasons I believe Ethereum has what it takes to reclaim the $4,000 mark is a series of upgrades implemented in the blockchain over the last year and a half.
If you recall, The Merge occurred in the fall of 2022 and effectively transitioned Ethereum from the bulky and power intensive proof-of-work to a more streamlined and efficient proof-of-stake blockchain. While this upgrade was highly publicized, and for good reason due to its magnitude, I believe there is another upgrade that will ultimately have a greater influence on Ethereum's future price ascension.
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Can Ethereum Reach $4,000 Again?