An influential cryptocurrency trader predicts that Ethereum (ETH) could see a significant rally of almost 70% due to a key catalyst.
In a recent video update, Guy Turner, the host of CoinBureau, shares with his 2.53 million YouTube followers that Ethereum, the second-largest cryptocurrency by market cap, might reach its all-time high (ATH) in 2025 following the Pectra upgrade.
“Pectra and its subsequent upgrades could be very bullish for ETH, potentially leading to a resurgence to its all-time high,” Turner explains.
According to Binance, the Pectra upgrade scheduled for 2025 is a two-part hard fork that aims to enhance Ethereum’s speed, scalability, and user-friendliness for both users and developers.
Some of the key updates include the ability to pay gas fees with any digital asset, increased rewards for validators, and enhancements to the Ethereum Virtual Machine (EVM) that powers smart contracts.
Turner believes that this upgrade could be the breakthrough Ethereum needs, attracting institutional investors to the platform.
“ETH has been waiting for a significant breakthrough, and this could be the catalyst it needs. The user interface improvements could make Ethereum more appealing to institutions,” he adds.
Currently trading at $2,902, ETH has gained 2% on the day. Its all-time high of around $4,900 was reached in November 2021. A return to that level would signify a 68% increase from its current price.
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