30.04.202109:19 Forex Analysis & Reviews: Ethereum to hit $3,000 soon

Unlike other cryptocurrencies, Ethereum (ETH) continues to hit new highs that it will not be long before it reaches $ 3,000.

And apart from its rising popularity, ETH also exhibits an impressive resilience, which makes it more attractive to investors.

But the main reason why many are captivated with it is because of the new technology called "Decentralized Finance" (DeFi), which includes trade, lending, derivatives, protection of intellectual property and a lot of interesting things that are not in Bitcoin.

As some experts in the field said, Bitcoin (BTC) is simple in architecture and is designed to be either stored or exchanged between two parties. But its massive growth in recent years has led to a sharp increase in transfer fee, putting it on par with gold, whose main task is to protect against inflation and preserve savings.

Meanwhile, the story with ether is different as its massive growth has not led to an overestimated transfer fee, not to mention the implementation of Ethereum 2.0 is expected to reduce costs even more.

Unfortunately, it has strong competitors such as the Binance token (BSC), which works in the same way as Ethereum. But the difference is that BSC is much faster and cheaper.

Nevertheless, ETH remains number one in this direction, and its centralized management system does not pose serious risks to its growth.

In fact, Ethereum is projected to reach as high as $ 3000 provided that the price goes above $ 2,800 first. But if it drops below $ 2,550, then ETH will collapse to $ 2,170.

And in the long-term, it has a fairly large chance of hitting $ 9,000 as long as there are no drawdowns in BTC and if demand for DeFi technology continues to increase.