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- ABRA’s CEO believes that Ethereum could hit $40K by the end of the year.
- The analyst believes that April is a historical month for Bitcoin.
A crypto analyst and YouTuber has in a recent video rekindled the hope of investors with interesting data to support the possibility that digital assets led by Ethereum could explode this month. In the video captioned “Crypto getting ready to explode in April,” he stated that April has been a historically bullish month for Bitcoin in the last nine months.
He stated that in the years 2013, 2016, 2017, 2018, 2019, and 2020, Bitcoin saw a growth of 50 percent, 32 percent, 33 percent, 34 percent, and 34 percent respectively. Only 2014, 2015, and 2021, saw a negative gain for the digital asset. In addition, he believes that Bitcoin technically looks bullish and has seen incredible user growth. As of now, only two million Bitcoins remain to be mined with 19 million of the 21 maximum supply of Bitcoins mined already. He further stated that the rate at which Bitcoin is mined slows down over time, and it is expected that the last Bitcoin would be mined by 2140.
ABRA’s CEO will not be surprised to see $40k per Ethereum this year
Ethereum on the other hand is also looking very bullish especially after recording $77 million in revenue this week. According to data, Google searches for Ethereum as well as institutional interest is near an all-time high. On top of that, Ethereum has recently surpassed the Bank of America in market cap. In addition, about 11.3 percent of Ethereum is held in a centralized exchange.
Another data discloses that there are over 423,000 Ethereum pending activation for ETH staking. Also, the total NFT sales volume on Ethereum has currently reached over $51 billion. It is worth noting that over two million ETH have been burnt since the launch of EIP-1559.
ABRA’s CEO Bill Barhide claims that he would not be surprised to see Ethereum hitting $40,000 this year, especially with all these incredible figures and achievements.
The last time Vitalik’s Google search was this high, Ethereum went 2X in a month.
Binance is also expected to explode this month as it seeks to win the trust of regulators and mainstream finance with the appointment of former Microsoft Exec Rohit Wad, as the CTO. The analyst believes that these, and many other activities going on in the crypto space could be enough of a catalyst to send the crypto value to the moon this month.
Solana and Cardano ready to explode
It is worth noting that CME Group was recently reported to be considering offering futures for Solana and Cardano. According to the analyst, this happens when the protocols get bigger. Fantom has also announced a 335 million FTM incentive program to boost its team building in the Fantom ecosystem. On top of that, NFT marketplace OpenSea extends its services to wider audiences by ensuring support for credit card payments.