Could Bitcoin be the world’s largest cryptocurrency be ready for a new price surge?
Bitcoin has just hit $40,000 in price as crypto markets appear to rebound in mid-March 2022. The $40,000 crypto price is a key bullish indicator for Bitcoin. The world’s largest cryptocurrency has hovered around the $39,000 mark for most of March.
Ethereum is also making impressive gains as news of the important Merge event gathers steam. If successful, Ethereum’s shift to a new consensus mechanism could mean reduced gas fees, faster processing times, and reduced environmental impact for crypto’s second-biggest coin.
But new projects are also gathering pace with new mechanisms to make money in crypto – many of them unrelated to crypto price movements. EverGrow Coin is a top rewards token that’s made exciting metaverse announcements in 2022.
Could Bitcoin be ready for a new price surge?
Current price: $40,5000
Expert Bitcoin investor Benjamin Cowen suggested this week that another price is likely, given past data. Bitcoin has repeatedly grown as soon as its price falls below an analytical marker called the bear market support line. Bitcoin is in this territory right now, meaning it wouldn’t be a surprise for BTC to stay above $40,000 and beyond
Bigger, better, faster Ethereum
Current price: $2,7000
Ethereum is crypto’s second-biggest token with a market cap of over $300 billion. ETH is up an impressive 5% in the last 24 hours as of March 16, following important news of technical developments.
Ethereum faced slow transaction speeds and high processing costs last summer, as activity overwhelmed its proof-of-work consensus mechanism. Ethereum functions like Bitcoin, with miners competing to record transactions on the blockchain for token rewards. But proof-of-work is costly and energy-intensive, spurning Ethereum’s founders onto the idea of shifting to a new consensus mechanism called proof of stake.
The Merge is the event when the…
![Anticipation for Ethereum [ETH] 2.0 rises as metric reaches all-time high](https://crypto.newswireservice.net/wp-content/uploads/2023/01/ethereum-wale-1000x600-350x250.jpg)
