Ethereum Rises 5%: Will Bitcoin Follow Suit?7. April 2023
• Bitcoin recently fell by over 2% to $28,069.54 while Ethereum declined by 1.15% to $1,890.98.
• PostFinance and Sygnum Partner to Offer Cryptocurrency Services
• Ethereum’s Shapella Upgrade and Its Potential Impact on the Market
Bitcoin Price and Ethereum Prediction
Bitcoin, the world’s largest cryptocurrency, has experienced a rollercoaster ride since the beginning of 2023, surging over 70% in the first quarter. This performance outpaces other assets such as physical gold and US stocks. However, the upward trend appears to be decelerating as BTC recently fell by over 2% to $28,069.54 while Ethereum also declined by 1.15% to $1,890.98. Investors are closely watching Bitcoin and Ethereum as safe-haven assets amid the possibility of a US banking crisis. Historical data indicates that April has typically been a strong month for cryptocurrencies like Bitcoin and Ethereum, which may contribute to investors‘ confidence in the crypto market.
PostFinance & Sygnum Partnership
PostFinance, a Swiss government-owned retail bank, has recently declared a partnership with Sygnum, a local cryptocurrency bank, to offer cryptocurrency trading and storage services to its customers. Hence this positive development clearly shows a growing interest in digital assets as it enables PostFinance customers to buy store and sell major cryptocurrencies such as Bitcoin and Ether while ensuring that these services are fully compliant with local regulations; thus supporting rising relevance of digital assets in financial system .
Ethereum’s Shapella Upgrade
The upcoming Capella update is another factor that has been boosting the crypto market; it is an upgrade for Ethereum which promises faster transaction speeds for users along with enhanced security features making it more attractive for businesses looking into incorporating blockchain technology into their operations .
Will BTC Follow Suit?
Investors are optimistic about the cryptocurrency market predicting that it will reach new all-time highs in coming weeks due to its anticipated performance after Shanghai hard fork update scheduled for April 12th . As BTC continues struggling at resistance zone of $28800-$29000 , experts believe recent macroeconomic data coupled with gold’s performance could provide necessary boost .
Cryptocurrencies such as Bitcoin and Ethereum have experienced significant growth since early 2021; however there have been some fluctuations due external factors like US economy conditions or regulatory policies . Despite these roadblocks , investor confidence remains high due potential for new all time highs following Shanghai hard fork . The addition of government regulated services from PostFinance & Sygnum further solidifies future success of cryptocurrencies like Bitcoin & Etherium .