Ether Shows Promising Trends: Time for a New Bull Run?

It is a well-known fact that the world of digital currency is volatile. Sometimes the price of cryptocurrency rises steeply, and sometimes the curve is declining. If we look at the current trends, Bitcoin is priced at $9.6K, and Ethereum token Ether is at an all-time high ($263-$271).

This is made possible due to the increasing popularity of decentralized finance (DeFi) and the upcoming Ethereum 2.0 upgrade, and the somewhat bullish mentality of cryptocurrency investors. Experts believe that Ether can break all records and set a new standard for others (approximate $317), or hi.

Now, let’s take a look at the previous records of Ether:

$288.32 (14 February 2020)
$367 (June 2019)

According to our data source, the ETH/BTC pair has shown strength, with both of them reaching new heights in terms of cost. Aside from these two, top-20 altcoins have also shown promising figures. All these indicate a possible bull run in near future, according to veteran investors.

Graphs of different coins (recent times):

Cardano (ADA)- 8.43% increase
Binance Coin (BNB)- 7.74% increase
Litecoin (LTC)- 6.43% increase

The current market cap of cryptocurrency is calculated as the whopping $284 billion. However, amid all the good news, it should be noted that Bitcoin’s dominance index is declining (61%). Is it due to the arrival of the Ethereum 2.0 upgrade? Or is there any other reason? We will see soon.

Disclaimer: Not to be considered as financial advice.