Home Business News ETH predicted to reach almost $4,900 by the end of 2024

ETH predicted to reach almost $4,900 by the end of 2024

by Thea Coates Finance Reporter
16th Feb 24 10:19 am

Ether (ETH) is predicted to end 2024 just shy of its all-time high (ATH) set in November 2021, according to Finder’s latest Ethereum Price Predictions Report.

Finder’s panel of 40 industry specialists predict ETH will end 2024 priced at US$4,887, just shy of its all-time high price of $4,892 set in 2021. It could even surpass this level, with the panel predicting on average ETH will hit a peak of $5,300 at some point throughout the year.

Omnia Markets Inc Founder and CEO Mitesh Shah thinks ETH will end the year at $5,000 before reaching $10,000 by the end of 2025.

“As the hype for the now-approved BTC Spot ETFs pulls investors into the industry, I believe ETH will benefit as well as investors diversify[ing] their portfolios to include more crypto assets. The interest in staking ETH has been growing, leading to more utilization,” he said.

Futurist Joseph Raczynski from Joe Technologist, Consulting & Media thinks ETH will end 2024 at $3,900 before reaching $5,600 by the end of 2025.

“There’s real potential here. A possible ETH ETF could be approved this year, but more importantly, general upward movement in the industry is going to help Ethereum move higher. It will become the global settlement layer for higher valued assets.”

FxPro senior market analyst Alexander Kuptsikevich predicts ETH will end the year at $3,500 but expects a peak of $5,500 at some point in 2024.

“Cryptocurrencies have been gaining momentum in 2023, but we should expect Bitcoin to remain the centre of attention for crypto traders throughout 2024. Only towards the end of the year should we expect to see an increased focus on altcoins, with Ethereum topping the list.”

ForexTraders.com senior cryptocurrency and forex analyst Nick Ranga also thinks ETH will end the year at $3,500, before reaching $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.”

“… The question now is when, rather than if, we will see an Ethereum ETF,” he added.

Meanwhile, Swinburne University of Technology Senior Lecturer Dimitrios Salampasis thinks ETH will increase only slightly by the end of the year to $2,500, noting network challenges.

“The Ethereum network is still undergoing numerous challenges despite the Merge resulting in users looking for alternative networks and offerings to avoid higher transaction fees and slower confirmation times.”

Overall, the majority (71%) of panellists say now is the time to buy ETH, 26% to hold, and only 3% to sell.

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