Expert Predictions for Ethereum’s Price by the End of the Year
If you’re curious about the price of Ethereum (ETH) by the end of the year, several experts have shared their predictions. Dmitry Noskov from crypto exchange StormGain believes that the cryptocurrency market is currently in a growth phase that could continue until December 31. He predicts that Ethereum could reach a target price of $1800-$1900 and even break the psychological level of $2,000.
Ilya Shirokov from CPO 1ex Trading Board finds Ethereum’s investment prospects more attractive than Bitcoin. He believes that ETH may soon grow relative to BTC, making it a better investment option.
ETH Price Under Pressure
However, Alexandra Cheriot, the regional director at Bybit, points out that ETH’s price could be impacted by the lack of clarity from American regulators regarding cryptocurrencies. The uncertainty surrounding its status could result in ETH being added to the US Securities and Exchange Commission’s list of unregistered securities. Cheriot also notes that ETH closely follows Bitcoin, meaning its price at the end of the year will likely depend on Bitcoin’s performance.
Two Possible Scenarios Without Bullish Catalyst
Pavel Sokol, a financial analyst for FINMIR marketplace, offers two potential paths for ETH if there is no significant growth catalyst. The first scenario is consolidation in the range of $1,500-$2,200 into the new year. The second scenario involves a price drop to around $800 if the price falls below $1,470. Sokol’s technical analysis suggests that ETH could increase to between $2,200 and $2,500 but warns of a potential fall to below $800 if positive market factors are not sustained.
Hot Take: ETH’s Price Depends on Market Factors
Experts have differing opinions on Ethereum’s price by the end of the year. While some predict growth and higher price targets, others highlight the uncertainties surrounding regulations and its correlation with Bitcoin. Ultimately, market factors such as regulatory decisions and the overall performance of the cryptocurrency market will play a significant role in determining ETH’s price. Keep an eye on these factors as they may influence the future trajectory of Ethereum.
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