cryptobriefing.com
Anticipated to approach its all-time high, Ethereum's 2024 forecast looks promising and includes a $5,300 peak.
Ethereum (ETH) is forecast to approach its all-time high by the end of 2024, with predictions setting its value at $4,887, slightly below the peak of $4,892 achieved in November 2021, according to a recent report by Finder. The report, which includes insights from 40 industry experts, also anticipates Ethereum could reach as high as $5,300 at some point during the year.
Despite varying predictions, a significant majority of the panelists (71%) recommend buying ETH at this time, with 26% advising to hold and a mere 3% suggesting to sell, indicating a generally optimistic outlook for ETH’s performance in the coming year.
Mitesh Shah, founder and CEO of Omnia Markets Inc., is optimistic about Ethereum’s prospects, projecting a year-end price of $5,000 and a significant increase 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 to diversify their portfolios.
Meanwhile, Joseph Raczynski, a futurist from Joe Technologist, Consulting & Media, has a more conservative estimate, predicting Ethereum will close 2024 at $3,900 and ascend to $5,600 by the end of 2025. Raczynski highlights the potential for an Ethereum ETF and the overall positive trajectory of the cryptocurrency market as key factors that could drive Ethereum’s value upward.
Alexander Kuptsikevich, a senior market analyst at FxPro, and Nick Ranga, a senior cryptocurrency and forex analyst at ForexTraders.com, both foresee Ethereum ending the year at $3,500, with Kuptsikevich expecting a peak of $5,500 and Ranga projecting a rise to $4,500 by 2025. Both analysts point to the recent approval of Bitcoin ETFs as a positive sign for Ethereum, suggesting that an Ethereum ETF may also be on the horizon.
Conversely, Dimitrios Salampasis, a Senior Lecturer at Swinburne University of Technology, offers a more cautious view, suggesting Ethereum might only slightly increase to $2,500 by year-end due to ongoing network challenges.