• Bitcoin
  • Blockchain
  • Crypto
  • Metaverse
  • AltCoins
  • Business
  • Investment
  • Upcoming
What's Hot

Cryptoverse: Big investors edge back to bitcoin

January 31, 2023

Very Bullish-Rated GensoKishi Metaverse (MV) Rises Tuesday to $0.2098731953

January 31, 2023

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

January 31, 2023
Facebook Twitter Instagram
  • Bitcoin

    Bitcoin Kills Rent Seeking – Bitcoin Magazine

    January 31, 2023

    Mastercard Binance Offer Crypto Card In Brazil – Bitcoin Magazine

    January 31, 2023

    Twitter Prepping For Payments, Could Include Bitcoin And Crypto: FT

    January 30, 2023

    Will Madeira Become Bitcoin Paradise? – Bitcoin Magazine

    January 30, 2023

    What I Learned From Ignoring Bitcoin – Bitcoin Magazine

    January 28, 2023
  • Blockchain

    Blockchain Pumps Up The Value Of Media Rights For NFL, NBA, And All Sports

    January 31, 2023

    Japan Implements Blockchain for Settling Rubber Futures

    January 31, 2023

    How the metaverse and blockchain accelerates economic … – e27

    January 31, 2023

    Play-to-Earn Is a Losing Game With a Focus on Money, Says Critics

    January 30, 2023

    Solana (SOL) Sustains Second Week of Inflows as Blockchain Sentiment Improves

    January 30, 2023
  • Crypto

    Ethereum staking withdrawal testnet Zhejiang to go online Feb. 1

    January 31, 2023

    Here’s how Kazakhstan aims to enhance its legacy crypto trading framework

    January 31, 2023

    Cryptocurrency Price Today In India January 31 Check Global Market Cap Bitcoin BTC Ethereum Doge Solana Litecoin Doge Ltc Gainer Loser

    January 31, 2023

    Bitcoin, Ethereum Prices Fall as Market Braces for More Fed Rate Hikes

    January 30, 2023

    Is this the bullish signal that Ethereum holders are waiting for?

    January 30, 2023
  • Metaverse

    Very Bullish-Rated GensoKishi Metaverse (MV) Rises Tuesday to $0.2098731953

    January 31, 2023

    Soul App “Möbius” Enriches Social Metaverse with NFTs

    January 31, 2023

    IMF lowers Saudi Arabia’s economic growth to 2.6% for 2023

    January 31, 2023

    Founders Workshop launches new Metaverse products division

    January 31, 2023

    GDC 2023 State Of The Game Industry Report Includes Insights Into VR And AR

    January 30, 2023
  • AltCoins

    5 altcoins that produced double-digit gains as Bitcoin price rallied in January

    January 31, 2023

    This Ex-Ripple Board Member Offers XRP As Shareholder Benefit

    January 31, 2023

    Voyager (VGX) Surges 49% Despite $445M Alameda Lawsuit

    January 31, 2023

    World’s Largest Crypto Hedge Fund Pantera Is Buying Altcoins

    January 31, 2023

    As Dogecoin Price Explodes, These 3 New Altcoins Might 10x

    January 30, 2023
  • Business

    Crypto lender Celsius propped up its token, benefiting insiders – U.S. bankruptcy examiner

    January 31, 2023

    Enter the Metaverse – January 2023

    January 31, 2023

    Cryptocurrency roundup for January 31: FTX's Bankruptcy Filing Brings Australian Branch to Administration,… – Moneycontrol

    January 31, 2023

    Crypto Trading Firm Cumberland Can Trade Crypto With Canadian Dollars

    January 30, 2023

    Four principles for crypto regulation

    January 30, 2023
  • Investment

    Cryptoverse: Big investors edge back to bitcoin

    January 31, 2023

    Top 5 Bitcoin documentaries to add to your watchlist By Cointelegraph

    January 31, 2023

    How To Invest, Plus How Big Eyes Coin Has Had One Of The Biggest Presales Crypto Has Seen – CryptoMode

    January 31, 2023

    FTX sues Voyager Digital to claw back $446 million in 2022 loan payments

    January 31, 2023

    10 Best Penny Cryptocurrency to Invest in 2023

    January 30, 2023
  • Upcoming

    2023-01-31 | NEO:INXD | Press Release

    January 31, 2023

    Moody’s earnings beat by $0.19, revenue topped estimates By Investing.com

    January 31, 2023

    People who posted Sam Bankman-Fried’s bail should be named, U.S. judge rules

    January 31, 2023

    Bitcoin (BTC) Completes “Extremely Rare” Chart Pattern, Peter Brandt Says

    January 30, 2023

    White House calls on Congress to toughen cryptocurrency laws

    January 30, 2023
investorstoday.press
investorstoday.press
Home»Upcoming»Is it Too Late to Buy Ethereum? Crypto Experts Give Their ETH Price Predictions for 2023
Upcoming

Is it Too Late to Buy Ethereum? Crypto Experts Give Their ETH Price Predictions for 2023

maikdezana@icloud.comBy maikdezana@icloud.comJanuary 24, 2023No Comments4 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

 

Since failing to break above early November resistance in the $1,675 area towards the end of last week, Ether (ETH), the token that powers the Ethereum blockchain, has been in consolidation mode. It was last moving sideways in the $1,600s, as traders monitor upcoming macro drivers including US Q4 2022 GDP growth figures on Thursday and December Core PCE inflation data on Friday.

Both data readings could impact expectations for Fed tightening this year, which could impact crypto – easing expectations for Fed tightening as a result of evidence of slowing US inflation and growth have lifted crypto so far this year. Indeed, despite its recent consolidation, Ethereum is still trading over 35% higher so far this year, meaning the world’s second-largest cryptocurrency by market capitalization is on course for its best monthly performance since July 2022.

Where Next For ETH?

Positive macro tailwinds, as well as optimism about Ethereum’s upcoming upgrade that will allow withdrawals could well support further upside. Indeed, progress towards the so-called “Shanghai” hard fork appears to be going smoothly – a core Ethereum developer just announced on Twitter that developers are have created a new test-net to test the soon-to-be-released staked ETH withdrawal feature.

Meanwhile, another possible tailwind could be if ETH supply conditions remain deflationary. According to data from ultrasound.money, ETH’s annual inflation rate fell into negative territory again at the start of last week for the first time since November.

A break above the $1,675 resistance area could open the door to a swift rally towards the next major resistance zone around $1,790 and then the summer 2020 highs in the $2,030.

Experts Give Their Price Predictions

According to algorithm-powered crypto forecast website Wallet Investor, Ethereum is likely to trade just above $700 in one year’s time, around 55% lower versus current levels.

Analysts at DigitalCoinPrice aren’t so bearish. Their algorithm predicts Ethereum ending 2023 at around $3,450, an impressive more than 100% up versus current levels.

Meanwhile, according to a recent survey of 55 fintech experts conducted by Finder.com, Ethereum is expected to end 2025 at $5,150 per token, before eventually rising to $11,700 in 2030. CEO and co-founder of Osom Finance, Anton Altement, explained that he is bullish on ETH because last year’s Merge has turned ETH into both a deflationary and a yield-bearing asset.

He added that pessimism driven by Fed tightening should ease in 2023, while concerns about still locked ETH staking will also soon be alleviated by the upcoming Shanghai hard fork upgrade expected at the end of this quarter.

Martin Froehler, CEO of Morpher, also outlined a bullish viewpoint. According to the survey, Foehler expects massive institutional demand for ETH in the coming years as a result of the cryptocurrency’s positive features. These include ETH’s yield of about 5% via staking, its eco-friendly nature post-Merge from proof of work, the fact that it is classified as a commodity, and the fact that ETH has a regulated futures contract on the CME to hedge against price volatility.

Is It Too Late to Buy Ethereum?

If the above bullish forecast are correct, it certainly isn’t too late. Yes, it would have been preferable to have scooped up ETH back in June 2022 when it bottomed in the $800s per token. But if you are a long-term investor looking to hold Ethereum until it rallies above $10,000, its not going to matter to much whether you bought at $800 or current levels in the $1,600s.

Ethereum is still down about 65% from its record highs hit in late 2021 in the $4,800s. So far in Ethereum’s history, buying it when it is still 65% below recent record highs has so far been a profitable strategy, even if investors weren’t able to catch the bottom.

Buy Ethereum Now

Ethereum Alternatives

If you’re looking for other high-potential crypto projects alongside ETH, we’ve reviewed the top 15 cryptocurrencies for 2023, as analyzed by the CryptoNews Industry Talk team.

The list is updated weekly with new altcoins and ICO projects.

Disclaimer: The Industry Talk section features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
maikdezana@icloud.com
  • Website

Related Posts

2023-01-31 | NEO:INXD | Press Release

January 31, 2023

Moody’s earnings beat by $0.19, revenue topped estimates By Investing.com

January 31, 2023

People who posted Sam Bankman-Fried’s bail should be named, U.S. judge rules

January 31, 2023

Bitcoin (BTC) Completes “Extremely Rare” Chart Pattern, Peter Brandt Says

January 30, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest crypto news

Advertisement
Demo
Top Insights

Cryptoverse: Big investors edge back to bitcoin

January 31, 2023

Very Bullish-Rated GensoKishi Metaverse (MV) Rises Tuesday to $0.2098731953

January 31, 2023

5 altcoins that produced double-digit gains as Bitcoin price rallied in January

January 31, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Categories
  • AltCoins (1,392)
  • Bitcoin (1,359)
  • Blockchain (1,376)
  • Business (1,370)
  • Crypto (1,357)
  • Investment (1,376)
  • Metaverse (1,353)
  • Upcoming (1,311)
Facebook Instagram
  • Contact Us
  • privacy policy
  • about us
© 2023 Designed by investorstoday.

Type above and press Enter to search. Press Esc to cancel.