The price of Bitcoin back at the top, should we invest in Ethereum?

Too late to buy bitcoin? Some investors have turned to Ethereum, upstairs in recent weeks. But is this rebound solid … or only carried by a stock market rebound? Decryption.

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The waking time for Ethereum (ETH)? Cryptocurrency experienced a dazzling increase of more than 62% over the past month. Merifying between the end of April and early May around $ 1,800, the digital asset was worth $ 2,500 this Friday, May 16. A level which remains far from its historic summit, however. Ethereum was able to be worth up to 4,600 dollars at its peak, in November 2021. Extremely volatile, the crypto experienced in 2024 of the lowest at $ 2,200, and from the highest to $ 4,000. Can we believe this time in a rise in line towards the summits?

Not sure for Antoine Andreani, research manager at XTB France, for which the rise of ETH is less linked to its fundamentals than a larger stock market which it has benefited. Back to Thursday, May 8, on the eve of the takeoff of Ethereum. The United States and the United Kingdom conclude a trade agreement, which is the first size inflection that the massive customs duties announced by Donald Trump on April 2. In the process, Bitcoin returns the $ 100,000 mark, which he had not reached since February, and Ethereum takes 40% in four days.

Ethereum followed the strong Bitcoin rebound, but has a promising update

A logical push according to Antoine Andreani: anticipating a bounce from the scholarship following the announcement of the agreement, “The investors first throw themselves on Bitcoin, who can leave stronger than the actions, then seeing that Bitcoin rose, they said that Ethereum was going to go up too, and this buying pressure has brings its course highly”. Thus, statistically, Bitcoin always announces the bullish trends before the clues – the Nasdaq has only opened up the following Monday – because it is also possible to invest on it at any time, without having to wait for the opening time of the scholarships.

A simple mimicry of bitcoin, then, to explain this rise of Ethereum? It would be aside an important event that took place on May 7: the successful deployment of the last update of the Ethereum blockchain, named Pectra. An evolution that should “Improve the platform and reassure users”according to Antoine Andreani, and who has also been able to grow Ethereum upwards. Finally, it should be remembered that unlike Bitcoin, the latter can be “stake”, that is to say being preserved by the user to generate interest (such as dividends for actions). A practice that reduces exchanges and therefore the number of units available on the market, and therefore pushes the purchase price upwards.