Ethereum (ETH) enthusiasts and investors eagerly anticipate the cryptocurrency’s performance in 2024, with experts forecasting a promising outlook. According to a recent report by Finder, Ethereum is anticipated to approach its all-time high, with predictions setting its value at $4,887 by the end of the year.
This forecast falls just slightly below the peak of $4,892 achieved in November 2021. Notably, the report includes insights from 40 industry experts, whose projections suggest Ethereum could reach as high as $5,300 during the year.
Ethereum expert insights and recommendations
Despite varying predictions, a significant majority of the panelists (71%) recommend buying ETH at this time, reflecting a generally optimistic outlook for Ethereum’s performance in the coming year.
Mitesh Shah, founder and CEO of Omnia Markets Inc., is particularly bullish, 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 increasing interest in cryptocurrency investment, especially following the approval of Bitcoin Spot ETFs. He believes this approval will benefit Ethereum as investors seek to diversify their portfolios.
On the other hand, Joseph Raczynski, a futurist from Joe Technologist, Consulting & Media, offers a more conservative estimate, predicting Ethereum to close in 2024 at $3,900, with an ascent 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.
Analysts’ projections and market outlook
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.
Kuptsikevich expects a peak of $5,500, while Ranga projects 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.
Source: https://www.cryptopolitan.com/ethereum-experts-predict-positive-trajectory/