Chris Burniskelist the former blockchain products at the Cathie Wood-LED Invest Arksays ether ETH/USD heading towards a bullish market in March.

Burniske tweeted that ETH is looking strong despite the recent market-wide turmoil.

“From my perspective, I’m surprised that given the weakness in stocks and the upward revision in interest rates, crypto hasn’t gone further down – bullish,” Burniske said in the tweet.

Burniske mentioned that an incoming upgrade for ETH, also known as Ethereum Improvement Proposal 4895 (EIP-4895), could act as a bullish catalyst for the leading smart contract protocol.

The proposed upgrade will allow users with staked ETH to withdraw their assets. The update is scheduled to appear in March.

Also read: Bitcoin, Ethereum move higher; Optimism, Enjin Coin among top gainers

At the time of writing, Ethereum is trading at $1,643.85, down 2.4% over the past seven days.

Bitcoin BTC/USD got off to a solid start in the new year. The crypto coin reached around $23,500 in January, resulting in a Return on investment of around 41%.

Photo: Shutterstock