Ethereum (ETH) Predicted to Approach All-Time High by 2024
According to a recent report by Finder, Ethereum (ETH) is expected to reach its all-time high value of $4,887 by the end of 2024. The report, which gathered insights from 40 industry experts, also suggests that Ethereum could potentially reach as high as $5,300 during the year.
Optimistic Outlook for ETH
The majority of the panelists (71%) recommend buying ETH at this time, while 26% advise holding and only 3% suggest selling. This optimistic outlook reflects a positive sentiment towards Ethereum’s performance in the coming year.
Expert Projections
Mitesh Shah, founder and CEO of Omnia Markets Inc., projects a year-end price of $5,000 for Ethereum and expects it to rise significantly to $10,000 by the end of 2025. Shah attributes this potential growth to the increasing interest in cryptocurrency investment following the approval of Bitcoin Spot ETFs, which he believes will also benefit Ethereum as investors seek portfolio diversification.
On the other hand, Joseph Raczynski from Joe Technologist, Consulting & Media offers a more conservative estimate. He predicts that Ethereum will close 2024 at $3,900 and rise to $5,600 by the end of 2025. Raczynski highlights the potential for an Ethereum ETF and the positive trajectory of the overall cryptocurrency market as factors that could drive Ethereum’s value upwards.
Alexander Kuptsikevich, a senior market analyst at FxPro, and Nick Ranga, a senior cryptocurrency and forex analyst at ForexTraders.com, both forecast Ethereum ending the year at $3,500. Kuptsikevich expects a peak of $5,500, while Ranga projects a rise to $4,500 by 2025. Both analysts view the recent approval of Bitcoin ETFs as a positive sign for Ethereum and suggest the possibility of an Ethereum ETF in the future.
However, Dimitrios Salampasis, a Senior Lecturer at Swinburne University of Technology, holds a more cautious view. He suggests that Ethereum may only experience a slight increase to $2,500 by year-end due to ongoing network challenges.
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