Ethereum Price Could Hit $5,300 during 2024, Finds Ethereum Price Predictions Report
Finder’s Ethereum Price Predictions Report reveals ETH could end 2024 at $4,887, hitting a peak of $5,300 at some point throughout the year.
Price of the native cryptocurrency of the decentralized blockchain Ethereum, ETH, is predicted to end 2024 just shy of its all-time high set in November 2021. According to the new Ethereum Price Predictions Report, published by the global fintech company Finder, ETH could end 2024 priced at $4,887, hitting a peak of $5,300 at some point throughout the year.
The new report is based on the latest survey conducted in January 2024, where a panel of 40 specialists in the cryptocurrency sector provided their insights on the expected performance of ETH up to the year 2030.
Among the key findings, the report highlights that, on average, the panel anticipates that ETH will have a value of $4,887 by the conclusion of 2024, projecting an increase to $7,492 by 2025 and further surging to $19,190 by 2030.
Furthermore, the specialists also forecast that ETH will reach $7,492 by 2025 and $19,190 by 2030. Notably, these projections are more optimistic than the average predictions made by the participants in Finder’s October 2023 and January 2023 surveys. In those previous surveys, the highest forecasts were for ETH to be $6,033 by 2024 and $14,411 by 2030.
One noteworthy perspective comes from Mitesh Shah, Founder and CEO of Omnia Markets, who said, “As the excitement surrounding the newly approved BTC Spot exchange-traded funds (ETFs) attracts investors to the industry, I believe ETH will also benefit, with investors diversifying their portfolios to include more crypto assets. The growing interest in staking ETH has contributed to increased utilization.” According to Mitesh Shah, ETH will conclude the year at $5,000 and further ascend to $10,000 by the conclusion of 2025.
Furthermore, there is significant potential in the Ethereum market. The potential approval of an Ethereum ETF this year, coupled with the broader positive momentum in the industry, is anticipated to contribute to Ethereum’s upward trajectory. Ethereum is expected to evolve into the global settlement layer for higher-valued assets. Thus, Joseph Raczynski, a futurist and Consulting & Media specialist from Joe Technologist, envisions ETH concluding 2024 at $3,900 and subsequently advancing to $5,600 by the conclusion of 2025.
ETH Price Trajectory Amidst Bitcoin Dominance and Ethereum Network Development
However, Nick Ranga, senior cryptocurrency and forex analyst at ForexTraders.com, anticipates that despite the momentum gained by cryptocurrencies in 2023, Bitcoin will continue to dominate the focus of crypto traders in 2024. He suggests that a shift towards increased attention on altcoins, with Ethereum leading the way, might only occur towards the end of the year.
The analyst forecasts that ETH will conclude the year at $3,500 and is expected to reach $4,500 in 2025.
“With the SEC giving the go-ahead for the first Bitcoin ETFs, attention now turns to the prospect of an Ethereum ETF. Historically, Ethereum follows where Bitcoin leads price wise, so it seems highly unlikely Bitcoin ETFs would receive approval but not their Ethereum counterparts,” said Nick Ranga. “… The question now is when, rather than if, we will see an Ethereum ETF,” he added.
Likewise, Dimitrios Salampasis, Senior Lecturer at Swinburne University of Technology, believes that the Ethereum network continues to face various challenges, even after the Merge. This has prompted users to explore alternative networks and solutions to mitigate issues like higher transaction fees and slower confirmation times. This makes Dimitrios Salampasis anticipate a modest increase in ETH by year-end, reaching $2,500.
Ethereum’s trajectory in 2024 reflects a cautious optimism, as predicted by experts, anticipating potential challenges and regulatory developments that may influence its journey toward a higher valuation and broader market significance.
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