The recent ETH gains have prompted many analysts to start wondering whether Ethereum is set to reach $2,000 in new crypto market bull run. With its increased efficiency, the Ethereum network has become one of the champions of green cryptos, which has a positive effect on its price. In early October, ETH broke through its long-held resistance level at $1,650, but it didn’t last long above it. It soon went below the resistance line again and is now hovering around the $1,600 mark.
Ethereum Set To Reach $2,000 In New Crypto Market Bull Run? Best Cryptos To Buy As Market Turns Green
With Ethereum's rise to $2,000 remaining doubtful, check out these best cryptos to buy as the market turns green.
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Ethereum Set to Reach $2,000 in New Crypto Market Bull Run
Ethereum Set to Reach $2,000 in New Crypto Market Bull Run
The overall bullish sentiment, characteristic for the crypto market in October, may yet to affect Ethereum and propel it to $2,000, but many experts doubt it. Instead, they focus on Bitcoin Minetrix (BTCMTX) Meme Kombat (MK), and TG. Casino (TGC) as the best cryptos to buy as the market turns green.
Is Ethereum Set to Reach $2,000 in New Crypto Market Bull Run?
Since the start of 2023, Ethereum has gained around 35%. ETH holders hope that the token, building on that momentum, can break through the $2,000 barrier. The early October breakthrough, which saw ETH going North of its $1,650 resistance level only added fuel to those hopes. Unfortunately, Ethereum didn’t stay long there and went below that line almost immediately.
Ethereum network’s efficiency has been hyped ever since the Shanghai Hard Fork in March this year, adding improved functionality as well as new features. This has allowed developers to claim that the Ethereum blockchain is one of the greenest on the market, scoring major brownie points with eco-conscious investors. As the entire market is turning green, or at least claims to do so, tokens that actually make an effort are in high demand these days, which is one reason behind ETH's bullish movement.
However, Ethereum's bull run is far from certain. Even though some indicators point out the possibility of it, many crypto experts just aren’t convinced that ETH can go off to the races in its present condition. The main issue they see as an obstacle is its declining network activity. The total-value-locked (TVL) across the Ethereum blockchain is down by more than 30% in 2023, tumbling from 18.41 million ETH to 12.79 million ETH. This is a clear indicator that something is rotten in the State of Denmark and a worrying alarm for a network priding itself on its utility. Especially worrying is the fact that Ethereum is one of the cheapest networks to use and despite that, its activity is dropping.
The second factor plaguing ETH demand is the strengthening of the US dollar. As American currency gains in value, the demand for ETH is dropping, just like the majority of other cryptocurrencies. Many investors simply prefer the perceived security fiat currencies offer over crypto ones and that attitude won’t change any time soon.
This is the reason why we see a major shift toward new tokens as the entire market turns green. Crypto projects like BTCMTX, MK, and TG. Casino have been gaining a lot of traction lately, even though all three are still in presale. These promising tokens represent a new generation of cryptocurrency, offering new utilities and engaging their communities in radically new ways. That is why a lot of investors are flocking to their presales and grabbing as many of these tokes as they can, betting that as soon as listings on crypto exchanges start, all three will explode.
Bitcoin Minetrix (BTCMTX) – Eco-Friendly Bitcoin Derivative
One of the biggest flaws of Bitcoin is the way new tokens are generated. Bitcoin mining is often criticized as a wasteful practice that burns massive amounts of energy and creates the need for expensive computer components with a massive carbon footprint. Bitcoin Minetrix solves both of these issues and at a fraction of the cost.
Bitcoin Minetrix uses an innovative method called cloud mining to generate new tokens. Instead of burning through electricity or buying expensive mining rigs, users can get BTCMTX by simply staking their tokens. Unlike the original Bitcoin, BTCMTX is created on the Ethereum blockchain, allowing it to incorporate various modern features the aging Bitcoin network lacks.
With almost $800,000 raised in presale, Bitcoin Minetrix is rushing towards its hard cap goal and its first listings on crypto exchanges.
On the first day of its presale, BTCMTX raised more than $100,000, a testament to how much attention it attracted from investors looking for a Bitcoin substitute. With the entire crypto market turning green, all of them are betting that this eco-friendly token will explode as soon as it hits the crypto exchanges.
Meme Kombat (MK) – Green Crypto Gaming Platform With Lucrative Staking Option
Meme Kombat is redefining the meme coin niche and doing it in the greenest way possible. The app promotes eco-conscious values by offering its users an energy-efficient way to stake their tokens and create a side income stream.
In Meme Kombat you can bet on your favorite memes as they fight against each other. The winner is determined by a popular vote. In Season 1 there will be 11 memes available, each based on a popular meme coin: Floki, Pepe, Pepe 2 Shiba, Sponge, Wojack, DogeBaby Doge, Milady, Kishu, and Mong. In Season 2, developers plan on adding even more memes to the fighter pool.
Currently in presale, Meme Kombat’s native token is gearing up for its first listings. So far, the presale has raised over $400,000, fast approaching its hard cap goal. Early investors stand to make a bundle once MK starts appearing on crypto exchanges and its price skyrockets.
TG. Casino – GambleFi Rising Star
Crypto gambling apps seem very popular these days, but rare are the ones that are primed for instant success like TG. Casino. The secret of its popularity among investors is the fact that the app is integrated into Telegram, one of the world’s biggest messaging apps. That means instant access to millions of users without the need to spend months building a player base.
But TG. Casino isn’t just about gambling. It also offers a profitable scheme to its holders, who will receive a large share of the app’s profit as a staking reward. Each TGC holder can participate in the scheme, making the token one of the most attractive cryptocurrencies on the market.
With more than $660,000 raised so far, TGC is having a smashing presale, putting it more than two-thirds of the way toward its presale goal. Once reached, the token will enter the next phase of its development and prepare for the first listings on crypto exchanges. At that point, analysts agree that the sky is the limit as its price will explode, delivering a massive ROI to its early investors.
Conclusion
As the crypto market turns green, Ethereum seems to be in a perfect position to reach $2,000. However, there are other factors at play that may hinder ETH in its effort and push investors toward other investment options, like BTCMTX, MK, and TG. These tokens offer a significant ROI and have the potential to turn early investors into crypto millionaires once they hit the open market and their prices explode.
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