The main cryptocurrency Bitcoin is a kind of driver for all other coins. And if the price of the BTC rises or falls, then the behavior of altcoins and tokens exactly repeats the dynamics of bitcoin. Experts are sure that ETH can grow 300 times if Bitcoin breaks the $ 50,000 milestone.
Ethereum for $ 7500: real or not
A discussion about this on Twitter was opened by Cryptoassets co-author Chris Burniske. He assures that if the main cryptocurrency breaks the threshold of $ 50,000 in the near future, then Ethereum will immediately reach the mark of $ 7,500. However, for this to happen, the bitcoin market must reduce volatility by at least 2 times. If this happens, then in 2021, Bitcoin can make a real breakthrough. This statement provoked a strong reaction among users, who, as usual, were divided into two camps.
Proponents of traditional cryptocurrencies are confident that the BTC and ETH are likely to reach their price highs already in 2021. So, for example, a user with the nickname @ruilopezcrypto wrote that ETH has the same rapid growth trend as Microsoft with early trends. It is likely that the ether will really break through to the maximum price.
Another user, under the nickname @ProofofBrain, is sure that the owners of bitcoin also have ETH tokens in stock. Therefore, the growth of bitcoin is only to the advantage of such investors, because they will receive double benefits.
However, opponents of bitcoin also entered into the discussion, who believe that the main cryptocurrency has already exhausted its reserves. So, a user with the nickname @GroundFrost believes that “smart money leaves Bitcoin in DeFi. We will never see 50k. ”
Also, some users claim that ETH does not need a $ 50,000 bitcoin at all to make a breakthrough. It is likely that after the launch of the updated Ethereum 2.0 platform, the token value will increase without reference to the BTC.
Does Ethereum need Bitcoin?
The fact that the ETH token correlates with bitcoin is a fact. However, many experts are sure that this will not always be the case. The launch of the Ethereum 2.0 platform will change the situation. Firstly, ETH itself will significantly increase in price and allow investors to receive income from staking. And the launch of the updated version can be even more significant event than the bitcoin halving.
The fact that the developers themselves do not know what the new platform will become, introduces intrigue to the market and increases interest in the event. As mentioned earlier, it is hype and increasing public attention to a particular coin that stimulates its price. Since interest in halving this year was lower than in previous years, the event was almost imperceptible, and Bitcoin itself even lost in value, which disappointed most of the community. Whether the ETH 2.0 platform will become significant for the market is not yet clear. But it is clear that interest in it is already flaring up.