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Ethereum will Show Excellent Returns in 2021

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Ethereum

Ethereum will show excellent returns in 2021

If you pay close attention to Bitcoin (BTC), then you are probably tracking Ethereum (ETH), which is also making great progress. Today Ethereum (ETH) surpassed the critical level of $ 700 and at the time of publication of the article was trading at $ 72 on the BitXmi crypto exchange with a market capitalization of $ 81.5 billion.

Ethereum      

2021 could be the year for Ethereum investors as institutional purchases of ETH grow. Moreover, given that ETH is trading at 50% off its all-time high, the cryptocurrency has a lot of potentials.

If we look at the charts, Ethereum continues to rally to highs and highs. With new highs, ETH is receiving decisive support with every up move.

Ethereum chart Bitxmi

One of the traders called this pattern “Stairway to Heaven”.

Also, after the massive bullish rise in BTC over the past three days, the ETH / BTC pair has entered oversold territory. It is currently at decisive resistance and indicates an impending bullish divergence.

One of the main pillars of Ethereum is that some of the largest Decentralized Finance (DeFi) applications are hosted on the blockchain. The blockchain currently controls over 70% of DeFi activity.

Cryptocurrency expert Alex Kruger believes that eventually, organizations will turn their attention to DeFi:

“Institutional investors will definitely turn their eyes to DeFi. But not now, although it is a matter of time. Then prices will rise so much that you will not believe it. However, don’t expect this to happen in 2021. This requires normative clarity.”

Read actual crypto news and forecasts every day on https://news.bitxmi.com/

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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