It is the second largest crypto currency in terms of market capitalization Ethereum, it recorded upward price movements at high rates, gaining a serious upward momentum. With this upward momentum, ETH has recently reached an all-time high price level.
Goldman Sachs market analysts believe that if Ethereum’s price movements linked to inflation continue,, ETHhe said that the may experience a serious increase. Bernhard Rzymelka, Managing Director of Global Markets at Goldman Sachs, published a note outlining the relationship of ETH’s price movements with inflation over the past two years:
“Inflation has been one of the factors encouraging the adoption of cryptocurrencies since recent times. in 2020, due to the pandemic, the countries closed and trade was disrupted for a while. Therefore, there has been an inflation throughout the world. For this reason, investors thought that digital assets were a better option than traditional investment products.
In this regard, Goldman Sachs market analysts claimed that if Ethereum continues the same line, ETH could be traded at $8,000 price levels, recording an 80% rise.
ETH Price Movement
Crypto currency in its ecosystem, Ethereum, which has the second largest market capitalization, showed a downward trend after rising above the price levels of $ 4,400. The downward market trend over the weekend caused ETH to trade at lower-than-expected price levels. However, Ethereum, which has become more deflationary with its decreasing supply, has been able to largely maintain the rises it has recorded, although it cannot continue its upward price movements in the daily time frame.
The information contained in this article absolutely does not contain investment advice. Investors should know that crypto currencies have high volatility, so they carry risks, and they should conduct their transactions in accordance with their own research.