- Bitcoin (BTC) and Ethereum (ETH) fundamentals with an upward trend indicate an imminent price increase.
- Bitcoin’s mining rewards stand at $20 billion while the network records strong health.
- Bitcoin Jack analysts predict an Ethereum price of $2000 for Q4 2020 or early 2021.
Despite the severe measures that the trading platforms BitMEX and OKEx have faced due to investigations by authorities, the fundamentals of Bitcoin and Ethereum remain strong. Both blockchains are in record moments of activity that indicate an imminent price increase.
Adoption drives Bitcoin price (BTC)
A report from research firm Arcane revealed that there has been a positive change in market sentiment after Bitcoin once again broke through the $11,000 resistance. Two days ago, Arcane recorded a change in the Fear and Greed Index that rose to 50 to place it “outside the fear zone,” as shown in the image below.
This is combined with an increase in the Bitcoin hash rate to an all-time high of 140 exahashes per second (EH/s) at the time of publication. In contrast to the beginning of 2020, the Bitcoin hash rate has increased by 36%, as shown in the image below.
The main reason behind the increase in Bitcoin’s fundamentals seems to be its high adoption levels. Investment announcements