A widely followed crypto trader says one catalyst could cause Ethereum (ETH) to spark a rally that sends it up nearly 70%.
In a new video update, CoinBureau host Guy Turner explains tells According to its 2.53 million YouTube subscribers, the second-largest digital asset by market cap could regain its all-time high (ATH) in 2025 once it receives the Pectra upgrade.
“Pectra and the upgrades that will follow are bullish for ETH – so much so that they could ultimately be the catalyst that helps ETH regain its all-time high.”
According to Binance, the Pectra updateDue in 2025, it is a two-part hard fork that will make Ethereum faster, more scalable and easier to use for both users and developers.
Some of the key changes include the ability to pay Ethereum gas fees using any digital asset, larger rewards for larger validators, and improvements to the Ethereum Virtual Machine (EVM), which runs smart contracts.
Guy goes on to say that the update will be the catalyst that Ethereum is “desperately” looking for, as the improvements could attract institutional investors.
“ETH has been desperate for a breakout for quite some time now. This could be the spark it needs. Things get even more bullish when you consider that the [user interface] improvements can make Ethereum more attractive to institutions”
The top altcoin is trading at $2,902 at the time of writing, a gain of 2% on the day. ETH set its ATH at around $4,900 in November 2021. An increase in that figure would represent a 68% increase for ETH from its current price.
Don’t miss a beat – Subscribe to receive email alerts straight to your inbox
Check price action
Follow us further X, Facebook And Telegram
Surf to the Daily Hodl mix
Featured image: Shutterstock/Aleksei RMG/Sensvector