A widely followed crypto trader says that one catalyst could cause Ethereum (
ETH
) to spark a rally that sees it rise by nearly 70%.
In a new video update, Guy Turner, the host of CoinBureau,
tells
his 2.53 million YouTube subscribers that the second-largest digital asset by market cap could regain its all-time high (ATH) in 2025 once it receives the Pectra upgrade.
“Pectra and the upgrades that will follow it are bullish for ETH — so much so that they could eventually be the catalysts that help ETH regain its all-time high.”
According to Binance, the Pectra
update
, due in 2025, is a two-part hard fork that will make Ethereum faster, more scalable and easier to use for both users and developers.
Some of the key changes include being able to pay Ethereum gas fees using any digital asset, bigger rewards for larger validators, and improvements to the Ethereum Virtual Machine (EVM), which runs smart contracts.
Guy goes on to say that the update will be the catalyst Ethereum has “desperately” been looking for as the improvements could attract institutional investors.
“ETH has been desperate for a breakout for quite some time. This could be the spark it needs. Things become even more bullish when you consider that the [user interface] improvements could make Ethereum more attractive for institutions”
The top altcoin is trading for $2,902 at time of writing, a 2% gain on the day. ETH set its ATH of about $4,900 in November 2021. A surge to that figure would represent a 68% surge for ETH from its current price.
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Featured Image: Shutterstock/Aleksei RMG/Sensvector