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Ethereum Price Prediction as ETH Jumps 10% From Recent Bottom – How High Can ETH Go?

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Following weeks of bearish sentiment, the Ethereum price has pushed to highs of $1,215 today after a mid-week rally. This recent price action comes as Bitcoin also gains more ground and reclaims support at $16,000 before inching closer to $17,000.The second-largest cryptocurrency appears to have tapped into a fresh bullish momentum that could propel it to $2,000 in the coming weeks, if not days.The Ethereum Foundation has announced an update about the status of staked ETH tokens following the transition to the proof-of-stake (PoS) consensus algorithm.

According to the team, the process of enabling withdrawals on the Beacon Chain is underway.Some investors have been concerned about rumors online that the Ethereum Foundation deliberately wanted to push back the timeline for the withdrawal of staked ETH.Stakers are likely jittery following many undesirable events in the market, which affected investors in FTX, BlockFi and Genesis.

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