In November 2021, many cryptocurrencies are soaring at an all-time high. Ethereum has touched the $4500 mark while Bitcoin went past its previous threshold of $64,000. Smaller cryptocurrencies like Polkadot and Binance have also shown promise in the recent price growth.
The growth in price started right after a period of slump triggered by China’s decision to ban crypto. But the way cryptocurrencies, especially Bitcoin, have recovered in the post-China ban era, shows that cryptocurrencies are truly decentralized. No single country or organization has a complete hold over it.
In continuation of these rises in price, Ethereum is now set to cross the $6000 mark and might soon touch the coveted $14000 mark. When and how it will happen is still under debate, but the forecast looks solid and attainable.
Recent technological innovations in the Ethereum blockchain are one of the many reasons behind the steady growth of this coin. It has successfully transitioned to Eth2 and a proof-of-stake technology. With these innovations in its arsenal, Ethreum is set to rise on an unprecedented scale.
Experts around the world agree that crypto is at a blooming phase now. A potential market crash is on the way, but the current rallies will place certain cryptocurrencies at a much higher level. Ethereum, the second-biggest crypto after Bitcoin, is already at a great place within the crypto ecosystem. An entry to the $6K-$14K will solidify its position as the single biggest cryptocurrency after Bitcoin.