After breaking above $ 1,400, crypto traders are talking about whether the price of Ethereum (ETH) could hit $ 3,000. Will it be possible? We tell you how you can make a profit from it.
Ethereum touches the moon
With a gain of almost 100% in January, Ethereum has outperformed Bitcoin. In fact, in 2020, the price of ETH increased to $ 400 from less than $ 200.
Likewise, other DeFi tokens such as Chainlink, Uniswap and SushiSwap hit new highs. This has caused many crypto traders to believe that altcoin season has arrived.
Certainly this week ETH has been seen to correct slightly with Bitcoin. However, more and more people are showing interest in the second largest crypto, even searches for the term ‘Ethereum’ on Google Trends rose to a new high.
This is how Galaxy Trading predicts that ETH could hit $ 2,000 and even $ 3,000 in the coming weeks, observing a similar pattern between Bitcoin and Ethereum price momentum.
Where does the impulse come from?
The recent rally in ETH could be attributed to the crypto launch of ETH 2.0, which promises lower fees and a faster response speed.
Also, like Bitcoin, ETH is receiving more attention and recognition from institutional investors. The Chicago Mercantile Exchange (CME Group) recently announced that its cash-settled Ethereum futures will launch in February 2021. Analysts expect this move to allow more money to flow into crypto.
Hence, crypto traders are picking up their pace to withdraw ETH from exchanges. It is even worth mentioning that, the proportion of ETH tokens that are deposited in crypto exchanges has dropped to 22% from 26.33% in September. Typically this indicates a growing hodling sentiment among crypto traders.
Bexplus offers you the best of the crypto market
In this way, Bexplus is a Bitcoin-based crypto platform offering 100x leverage and contracts for BTC, ETH, EOS, and XRP. Also, registration does not require KYC and takes 60 seconds.
Not to mention, a Bexplus account grants you access to trading simulators, built-in charting software, up to 30% annual interest on the Bitcoin wallet, and 100% deposit bonuses.
Easy registration without KYC
Crypto traders can register an account with email only and this process only takes a minute. No KYC protocol is carried out during trading, so you don’t need to worry about information leakage.
100% bonus to help you maximize profits
Double margin helps you double your profit! Deposit 1 BTC and you will get 2 BTC. Up to 10 BTC is available on each deposit and you can withdraw all the winnings generated by the bonus.
Also, larger spreads mean your positions are less likely to be liquidated. Therefore, your positions will be better secured in the highly volatile market. In the meantime, if you want to improve your business skills, Bexplus analysts are always ready to help.
10 BTC for demo account
Bexplus is known to be a beginner-friendly crypto exchange – each user will get a demo account with 10 BTC upon signing up. Crypto users can explore futures trading with the demo account and learn how to analyze the market.
BTC Wallet: up to 30% annualized interest without any risk
Bexplus crypto users can make profit not only from trading. Join the Bexplus wallet, you can earn up to 30% annual interest risk-free.
Therefore, with up to 30% annualized interest, it is without a doubt one of the most profitable rates in the industry. While most crypto lending platforms require traders to deposit at least 1 BTC, crypto traders can make a deposit starting at 0.05 BTC at Bexplus.
Trade freely on Android and iOS
The top-notch Bexplus application integrates all the necessary functions and tools (real-time charts, a variety of indicators, news alerts, etc.), while maintaining a minimal and intuitive interface.
So, with the Bexplus app, you can manage your account anywhere and anytime you want. Plus, you have 24/7 notifications that could keep you up to date with big price movements, making it easy to secure your positions.