Why These Experts Believe The Ethereum Price Could Soar to $5,000
12 Oktober 2022 - 6:30PM
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The Ethereum price has been trending to the downside after its
successful implementation of “The Merge” and its transition to a
Proof-of-Stake (PoS) consensus. Launched back in September on
mainnet, ETH’s price has been losing bullish momentum since then.
Related Reading: This Expert Suggests How Ripple Price Will Trend
Amid Expansion In Europe At the time of writing, the Ethereum price
trades at $1,298 with sideways movement during today’s trading
session and a 5% loss in the last 7 days. The second cryptocurrency
by the market has been following the general sentiment in the
market as the nascent asset class is pushed down due to
macroeconomic factors. There Is Hope For The Ethereum Price, How
Long Should You Hold ETH? According to a survey conducted by Finder
with 5 experts, the Ethereum price has limited bullish potential
for 2022. The experts believe that this cryptocurrency will likely
continue moving sideways for the rest of the year. In tandem with
current macroeconomic conditions, the Ethereum price will be
limited by tightened financial conditions and liquidity. Thus, ETH
is likely to stay at its current levels or rise by $1,360 to $1,377
by the end of 2022. As seen below, the cryptocurrency might pick up
its bullish momentum in 2023 and 2024. This would take ETH’s price
from its current levels to its previous all-time high north of
$4,000. After that, Ethereum’s upside trajectory will be much
steeper, according to the experts with a potential to reach a new
all-time high in late 2024 or in early 2025. Over the next decade,
the cryptocurrency could soar to $11,700, according to the most
conservative experts. Others believe the Ethereum price could climb
to as much as $14,000, $23,300, and even $26,000 over the same time
period. The experts believe that the U.S. Federal Reserve (Fed) and
its interest rates hike program will be its biggest obstacle to
future appreciation. CEO and Co-Founder of Osom Finance, Anton
Altement, stands among the bullish experts. He told Finder the
following: All round market pessimism driven by Fed’s actions and
still locked ETH staking are the key factors holding back the
price. Former should disappear by December, latter by next spring –
those 2 events will unlock the next legs of the rally. Can ETH Go
Lower In 2022? In that sense, the majority of experts claimed that
the Ethereum price might find a bottom at around $1,000 to $900 in
2022. These might be good levels for long-term holders looking to
profit for future appreciation. Related Reading: Why ApeCoin
Traders Should Expect The Next Coming Days To Be Tough For APE
However, the Ethereum price is likely to remain limited as long as
the U.S. Federal Reserve maintains its tightening agenda. The low
ETH prices are, for 48% of respondents, an opportunity to buy
cryptocurrency. Senior Analyst at FxPro, Alexander Kuptsikevich
said: Ethereum has found itself in an area where it receives
support from long-term investors. Crypto investors may remain
cautious for a few more months or a couple of quarters, but we can
expect an active bull market to return as soon as next year.
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