Ethereum announced that the next upgrade after Istanbul, dubbed Berlin, is ready to be deployed. The first testnet to upgrade, named Ropsten, went live on March 10th, while the mainnet is scheduled to launch on April 14th, 2021. The last upgrade has certainly affected the price of Ethereum in the market in December 2020, while the bullish momentum most certainly continued in 2021. Ethereum is once again trading closer to its all-time high, although it is going through mild pullbacks in March. Will the Ethereum Berlin upgrade affect the price of ETH in the market?
Berlin Upgrade Date Confirmed by Ethereum Dev Team
Ethereum dev team released the testnet to upgrade, Ropsten, on March 10th, also announcing Berlin upgrade for April 14th. All users who are running nodes on Ethereum are advised to upgrade to a compatible version at least a week before the announced upgrade. The price of Ethereum will certainly be affected by the upcoming upgrade, while ETH is currently in a pullback. March pullbacks are nothing strange in the crypto market as March dips are a common case based on historical records. Still, Ethereum is trading around 1,800$, with 1335% of returns for the year. ETH is down by -12% since reaching its all-time high price at the value of 2,042$ on February 20th. The weekly and monthly charts are showing mild losses around -1% and -2%, indicating that the pullback is not bringing major losses in ROI for ETH. What is most likely the case for Ethereum, is that the following upgrade should push ETH up above 2,000$ with a great opportunity to set a new price record with the lowest price target set at the value of 2,100$. As Ethereum is preparing the biggest update to the system since the initial launch of the network, each upgrade makes ETH a little more valuable, and the overall demand is naturally dictating that value.
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