Ethereum Eyes US$1,700 Next! Can it Outperform BTC in the Bull Run?

As Ethereum grows, Bitcoin investors feel threatened, especially after its recent price rally

The crypto market has returned to the greener side after Ethereum led a bullish price rally that drove the entire market to new highs in 2022. Right after Tim Beiko posted on his social media handles about the recent probable decision to launch the ETH 2.0 upgrade in September, the value of the crypto rose and reached its most-anticipated barrier, the US$1,500 resistance. Experts say that this bullish price rally might eventually lead ETH to US$1,700, overtaking Bitcoin's market dominance in the process.

The Ethereum network became popular in the investment community after its network started supporting the development of and the creation of new applications on its infrastructure. But since its inception, the investment community has been facing several issues regarding its transaction costs and speed. Ethereum also had the reputation of possessing high gas fees which diverted affordability-seeking investors to look for other investment options. But the Merge upgrade is expected to alleviate all these issues and make the ETH network a far more sustainable option for investment.

But despite these developments, there are several speculations around the Merge upgrade that are making bullish investors worry about the prospects of the crypto. Analysts believe that in a bearish market situation, a bullish price rally might provide relief to the investors but it is temporary and should not be the basis of any investment strategy. Currently, Ether's price rally has improved the condition of other cryptocurrencies. Bitcoin rose by almost 7% within a week, meanwhile, Ripple and Solana recorded a 12% increase in their market value.

Data reveals that the emerging US$1,700 resistance is extremely important for ETH investors. But to make this price rally a success, the Merge upgrade's launch has also got to be a successful endeavor. After ETH's growth, the crypto market might also witness a massive altcoin rally this year!