Is ethereum going to go up in the future?

Ethereum (ETH) and Bitcoin (BTC) will increase in the future

Ethereum (ETH) and Bitcoin (BTC) will increase in the future

 Open opportunities for Ethereum (ETH) and Bitcoin (BTC) will increase in the future as the crypto market experiences all-time highs.

However, the total outstanding interest in Bitcoin futures stood at $26.4 billion, surpassing the previous high of $27.4 billion.

Open interest in the futures market refers to the total amount of business contracts that have been entered into. An increase in open rates is a clear indication that new money has entered the market.

The increase in open interest indicates that Ethereum and Bitcoin may continue their current price gains with the possibility of more moves in the near future.

Recently, one of the largest investment banks, Goldman Sachs, predicted that Ethereum will reach $8,000 in the next two months. At the same time, JP Morgan made a similar prediction that Bitcoin will soon exceed $73,000.

Ethereum and Bitcoin prices are rising

Outside the futures market, Bitcoin and Ethereum have made new highs and entered the price search mode.

There can be many reasons. London's Ethereum chain, which was activated in August of this year, became the catalyst for the price increase, changing Ethereum's payment methods. For three months, the innovation has created a silent power for the second largest cryptocurrency.

In addition, Ethereum maintains its market control. It is the highest resolution level for non-volatile tokens (NFT). The network also offers a lock-in price for Defy, even as other competitors like Solana show signs of growth.

The price of Ethereum itself has increased by 60 percent since October 1st. Currently trading around $4,800, ETH is testing the $5,000 level, which is expected to be a psychological resistance point.

Meanwhile, Bitcoin is currently trading at a record high of $68,500. In recent months, the rally has been led by Proshares and Valkyrie bitcoin exchange-traded funds (ETFs).

Bitcoin also has a major "taproot" update coming out on November 15th, and the wait for the improvements could affect the price of the currency.