Former U.S. congressional candidate and Gokhshtein Media founder David Gokhshtein, who frequently tweets about major cryptocurrencies and meme coins, has touched on Ethereum. The prophecies are seen on Crypto Twitter last year and earlier about ETH approaching $10,000.
Gokhshtein questions in his tweet whether the community of the second largest digital currency still feels it can achieve the previously announced high price level. He remarked that he had not lately heard anyone discussing Ethereum reaching $10,000 on Twitter.
The much-anticipated Ethereum update in Shanghai was revealed on Twitter around a week ago. The Ethereum network will undergo a critical hard fork on April 12.
Stakeholders can then withdraw their ETH from the Ethereum 2.0 deposit contract. This upgrade and another known as Capella will complete the blockchain’s move to the proof-of-stake consensus mechanism.
Several whales anticipate a drop in the Ethereum price following this since significant quantities of ETH are expected to be removed from the aforementioned staking contract. ETH is currently trading at $1,755, having just surpassed $1,800.
As the banking crisis in the United States persists, Ethereum has exceeded $1,800 numerous times this month. It all started with the failure of three large banks: Silvergate, Silicon Valley Bank, and Signature Bank. This quickly lifted the Bitcoin price to $28,000, allowing Ethereum to reclaim $1,800.
First Republic Bank and Credit Suisse have just suffered the same fate. Deutsche Bank may be the next possibility for insolvency, if not of severe difficulties, as its share price has been falling. On Friday, the cost of credit default swaps on this financial giant’s debt increased significantly. This is causing the prices of Bitcoin, Ethereum, and the rest of the cryptocurrency market to climb.
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This article was republished from azcoinnews.com