Four signs that crypto is about to rise to a new all-time high

Cryptocurrency’s value continues to increase over time as it expands its uses across nations and industries. It may seem like it is stagnating now, especially with Bitcoin which has fallen so far away from its all-time high by more than half. However, this was the same sensation that investors felt every year. The public will start assuming that Bitcoin is failing until it attains a sudden bull market in a month or so.

Regardless, one can be forgiven for overlooking the pattern. Crypto is a serious investment and everybody just wants their funds to be perfectly safe. However, the latter half of 2021 could be the last opportunity to invest in the top cryptocurrencies before they reach another all-time high. Here are signs that cryptocurrencies are reaching a new price ceiling soon:

Ether is seeing a steady climb in more than two weeks

Ether dropped down to a $1,718 floor but it has risen to $2,725 in two weeks. It’s still half of the all-time high that it achieved in the middle of May 2021 but an 8%-11% average increase in a short time is impressive.

Its popularity can be attributed to interactive entertainment projects such as an online betting site and its casino welcome bonus offer on its blockchain. There are also projects for non-fungible tokens (NFT) planned to run with ETH and people are looking forward to the possible NFT explosion.

Bitcoin pullbacks are only due to market cooldown

Bitcoin displays a steady downward trend over the last week which pushed its price down to $37,509. It has steadily increased back to roughly $39,600 in the first week of August 2021. Many predict that it will continue to drop down to either November or February. After which, it will shoot back up to between $40,000 to $50,000. It is also possible to reach a new all-time high.

This is not a prediction that is set in stone but an interpretation of patterns. A quick look at Bitcoin’s charts over the past three years shows that this is a common trend for the network. It reaches a peak between December to May then rushes back down to a new price floor. Bitcoin then sees a series of 2-8% bull and bear markets with a new price ceiling that is less than half of the new all-time high. Some experts believe that BTC can reach a $124,000 all-time high in the next decade.

Wells Fargo bank offers crypto exposure to clients

Wells Fargo is one of the major banks in the United States and it was originally against crypto because regulations were too vague. The management changed its mind in July 2021 and oversees $2 trillion in assets.

Millions of their clients are now offered crypto exposure and a team of analysts who ensures that their investments are always successful. The bank still sees cryptocurrencies as an alternative investment rather than a strategic allocation.

Bitcoin is close to reaching its fixed supply

As of August 2021, there are 18.6 million BTC in circulation. Once it reaches its fixed amount of 21 million BTC, Wells Fargo predicts that its market price from today will yield a 340% increase. It’s still in the distant future but this fact attracts other potential investors.

Wells Fargo, one of the biggest banks in the United States, have shown their interest in digital assets. It won’t be long until more major institutions around the world join the crypto ecosystem. Ethereum is also expected to rise thanks to this on top of the success of NFT markets. Aside from betting sites and a casino welcome bonus offer for new players, cryptocurrency has also paved the way for collectable merchandise and play-to-earn games.

Back to top button