{"id":571707,"date":"2024-01-26T05:00:23","date_gmt":"2024-01-26T05:00:23","guid":{"rendered":"https:\/\/wncen.com\/?p=571707"},"modified":"2024-01-25T19:47:59","modified_gmt":"2024-01-25T19:47:59","slug":"ethereum-path-to-recovery-analyst-highlights","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-path-to-recovery-analyst-highlights\/","title":{"rendered":"Ethereum\u2019s Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom"},"content":{"rendered":"

Michael van de Poppe, a prominent crypto analyst, recently outlined three key factors that could herald a bullish phase for Ethereum<\/a>, the second-largest crypto by market capitalization. One crucial factor he identifies is Bitcoin’s current behavior.<\/p>\n

The analyst pointed out that as the market leader, Bitcoin\u2019s recent signs of bottoming out tend to precede altcoin rallies, hinting at a potential upswing for Ethereum. Moreover, Van de Poppe highlights the growing anticipation surrounding spot Ethereum exchange-traded funds (ETFs)<\/a>.<\/p>\n

According to Van de Poppe, the increasing buzz about these spot ETFs is a significant catalyst that could drive Ethereum’s value over the coming weeks.<\/p>\n

Related Reading: Recovery Dim? Ethereum Faces Potential Slide Towards $2,000<\/a><\/div>\n

Additionally, Ethereum is on the cusp of rolling out critical network upgrades. These updates, aimed at reducing transaction costs by up to 90%, are expected to improve the network’s efficiency and scalability significantly.<\/p>\n

\n

The momentum towards $ETH<\/a> is probably going to come in the next few weeks.<\/p>\n

Arguments:
\n– #Bitcoin<\/a> bottoming out is a trigger for altcoins to make a new run.
\n– Ethereum Spot ETF hype.
\n– Ethereum launching new upgrades to reduce 90% of the costs. pic.twitter.com\/N8bDi52F8M<\/a><\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) January 25, 2024<\/a><\/p><\/blockquote>\n

Latest Update On Ethereum Deacon Upgrade<\/h2>\n

Regarding updates, Ethereum’s development team is making strides with the upcoming Dencun upgrade, a significant “hard fork” that aims to enhance the blockchain’s efficiency.<\/p>\n

Tim Beiko, a core Ethereum developer, updated the community earlier today on the progress. Dencun, which incorporates “proto-danksharding,” is set to reduce transaction costs on layer 2 solutions, making Ethereum more accessible and affordable for users.<\/p>\n

According to the developer, the upgrade is scheduled to activate on the Sepolia testnet on January 30 and the Holesky testnet on February 7, with mainnet implementation following if these tests succeed.<\/p>\n

\n

More testnet blobs on the way .oO<\/p>\n

Dencun will activate on Sepolia Jan 30, and on Holesky Feb 7. If running a node on either network, now’s the time to update it!<\/p>\n

Assuming both of these go smoothly, mainnet is next \u2705https:\/\/t.co\/QbEUACix2S<\/a><\/p>\n

\u2014 timbeiko.eth \u2600\ufe0f (@TimBeiko) January 25, 2024<\/a><\/p><\/blockquote>\n

Brighter Future Ahead<\/h2>\n

Despite these positive developments, Ethereum\u2019s market performance mirrors the overall bearish sentiment in the crypto market, led by Bitcoin. ETH<\/a> has seen a 13.7% decline<\/a> in the past week, currently trading at $2,216<\/a>.<\/p>\n

\"Ethereum
ETH price is moving sideways on the 4-hour chart. Source: ETH\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

However, analysts like Van de Poppe urge caution, particularly regarding the impact of the Bitcoin spot ETF. While there may be short-term selling pressure, Van de Poppe remains optimistic about the long-term prospects.<\/p>\n

Related Reading: Ethereum Price is Primed For a Correction And Only 1 Thing is Holding it Back<\/a><\/div>\n

The analyst suggests that the influx of new capital from diverse market participants could propel Bitcoin, and by extension, Ethereum, to new heights.<\/p>\n

\n

The markets need to be more accurate with the impact of the ETF.<\/p>\n

There’s some selling pressure in the short term, but in the long term, a massive amount of new money flows into the markets from new participants.<\/p>\n

As a result, #Bitcoin<\/a> might push higher this cycle than we think.<\/p>\n

\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) January 25, 2024<\/a><\/p><\/blockquote>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Michael van de Poppe, a prominent crypto analyst, recently outlined three key factors that could herald a bullish phase for Ethereum, the second-largest crypto by market capitalization. One crucial factor he identifies is Bitcoin’s current behavior. The analyst pointed out that as the market leader, Bitcoin\u2019s recent signs of bottoming out tend to precede altcoin rallies, hinting at a potential upswing for Ethereum. Moreover, Van de Poppe highlights the growing anticipation surrounding spot Ethereum exchange-traded funds (ETFs). According to Van de Poppe, the increasing buzz about these spot ETFs is a significant catalyst that could drive Ethereum’s value over the coming weeks. Related Reading: Recovery Dim? Ethereum Faces Potential Slide Towards $2,000 Additionally, Ethereum is on the cusp of rolling out critical network upgrades. These updates, aimed at reducing transaction costs by up to 90%, are expected to improve the network’s efficiency and scalability significantly. The momentum towards $ETH is probably going to come in the next few weeks. Arguments: – #Bitcoin bottoming out is a trigger for altcoins to make a new run. – Ethereum Spot ETF hype. – Ethereum launching new upgrades to reduce 90% of the costs. pic.twitter.com\/N8bDi52F8M \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) January 25, 2024 Latest Update On Ethereum Deacon Upgrade Regarding updates, Ethereum’s development team is making strides with the upcoming Dencun upgrade, a significant “hard fork” that aims to enhance the blockchain’s efficiency. Tim Beiko, a core Ethereum developer, updated the community earlier today on the progress. Dencun, which incorporates “proto-danksharding,” is set to reduce transaction costs on layer 2 solutions, making Ethereum more accessible and affordable for users. According to the developer, the upgrade is scheduled to activate on the Sepolia testnet on January 30 and the Holesky testnet on February 7, with mainnet implementation following if these tests succeed. More testnet blobs on the way .oO Dencun will activate on Sepolia Jan 30, and on Holesky Feb 7. If running a node on either network, now’s the time to update it! Assuming both of these go smoothly, mainnet is next \u2705https:\/\/t.co\/QbEUACix2S \u2014 timbeiko.eth \u2600\ufe0f (@TimBeiko) January 25, 2024 Brighter Future Ahead Despite these positive developments, Ethereum\u2019s market performance mirrors the overall bearish sentiment in the crypto market, led by Bitcoin. ETH has seen a 13.7% decline in the past week, currently trading at $2,216. However, analysts like Van de Poppe urge caution, particularly regarding the impact of the Bitcoin spot ETF. While there may be short-term selling pressure, Van de Poppe remains optimistic about the long-term prospects. Related Reading: Ethereum Price is Primed For a Correction And Only 1 Thing is Holding it Back The analyst suggests that the influx of new capital from diverse market participants could propel Bitcoin, and by extension, Ethereum, to new heights. The markets need to be more accurate with the impact of the ETF. There’s some selling pressure in the short term, but in the long term, a massive amount of new money flows into the markets from new participants. As a result, #Bitcoin might push higher this cycle than we think. \u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) January 25, 2024 Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":514768,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[134,6664,26263,8323,1946,10336,84307,78803],"class_list":["post-571707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-altcoin","tag-crypto","tag-crypto-analyst","tag-eth","tag-ethereum","tag-ethereum-analysis","tag-ethereum-prediction","tag-ethusdt"],"acf":[],"yoast_head":"\nEthereum Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom<\/title>\n<meta name=\"description\" content=\"Michael van de Poppe, a prominent crypto analyst has 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Ethereum\u2019s Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom","url":"http:\/\/wncen.com\/news\/ethereum\/ethereum-path-to-recovery-analyst-highlights\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/ethereum\/ethereum-path-to-recovery-analyst-highlights\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536"},"articleSection":"Ethereum","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","crypto analyst","eth","ethereum","ethereum analysis","ethereum prediction","ethusdt"],"dateCreated":"2024-01-26T05:00:23Z","datePublished":"2024-01-26T05:00:23Z","dateModified":"2024-01-26T05:00:23Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Ethereum\\u2019s Path To Recovery: Analyst Highlights 3 Key Factors Pointing To A Price Boom\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-path-to-recovery-analyst-highlights\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/ethereum\\\/ethereum-path-to-recovery-analyst-highlights\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/Ethereum.jpg?fit=750%2C536\"},\"articleSection\":\"Ethereum\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"crypto analyst\",\"eth\",\"ethereum\",\"ethereum analysis\",\"ethereum prediction\",\"ethusdt\"],\"dateCreated\":\"2024-01-26T05:00:23Z\",\"datePublished\":\"2024-01-26T05:00:23Z\",\"dateModified\":\"2024-01-26T05:00:23Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/01\/Ethereum.jpg?fit=750%2C536","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/571707"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=571707"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/571707\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/514768"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=571707"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=571707"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=571707"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}