With the majority of the cryptocurrency market dragging its feet in recent weeks, it is no surprise that its second-largest asset by market cap, Ethereum (ETH), is doing the same. However, the hope remains it could hit the high price level of $5,000 sometime in the future.
As it happens, Ethereum managed to get close to this mark on November 9, 2021, when it reached its all-time high (ATH) of $4,815.01, climbing by 168.25% from the $1,794.97 where it stood on July 21, 2021, which is close to its price at present and suggests a very real possibility of repeating this success.
With this in mind, Finbold has analyzed the main factors that could (but do not necessarily have to) lead Ethereum closer to the $5,000 price level and eventually overtake it – either by themselves or together with other influences.
Mass adoption of Ethereum-based applications
With Ethereum being the most popular blockchain choice to build a wide range of decentralized applications (dApps) on, such as in the sect
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