How High Will Ethereum Go This Year?

How High Will Ethereum Go This Year?

How High Will Ethereum Go This Year: The current momentum of Ethereum is not encouraging despite the much-awaited merge taking place. As per the prediction, at the current price, if Ethereum gains 5% a month from now, the maximum ETH Price Prediction 2022 is $1590.

Also, if Ethereum gains 10% a month from now, the price of ETH will reach $1916 by the end of the year. Therefore, ETH Price this year is predicted to remain below $2000.

Since January 2022, Ethereum has lost over 60% of its value. Ethereum in the first week of January was trading at over $3700 and 9 months down the line, Ethereum’s price is below $1500.

At one point, Ethereum’s price went below $1000 creating fear among the investors. If we talk about Ethereum’s all-time high, in 2021, on November 16th, Ethereum reached its all-time high. ETH price touched $4,891.70 but since then there has been a retreat in the price of Ethereum. ETH has lost over 60% of its ATH value.

How High Will Ethereum Go This Year: A Simple Calculation

Price as of September 19th$1308
Market Cap as of September 19th$160 B
If Ethereum were to rise 5% a month, what will be Price By the End of 2022?$1590
If Ethereum were to rise 10% a month, what will be Price By the End of 2022?$1916

How High Will Ethereum Go This Year: If Ethereum gains 5% every month from now, then by the end of December 2022, Ethereum’s price would be $1590 and if ETH rises 10% every month, we may see ETH’s price at over $1916.

How High Will Ethereum Go This Year: Factors That Could Influence the Rise of Ethereum

Several factors have been responsible for the price fluctuation of Ethereum and the rest of the cryptocurrencies in recent times. Here are a few factors that could influence the rise of Ethereum:

  • Ethereum Merge: Ethereum Merge or Ethereum 2.0 has been one of the most debated topics recently. Ethereum merge is shifting the entire Ethereum network from Proof-of-Work to Proof-of-Stake. With this, the network of Ethereum will be more energy efficient and the gas prices of ETH will fall steeply. ETH merge is live but as of now, there has been no positive effect on the price of Ethereum. This can be attributed to growing US inflation and also the fear of raising the rates by US Fed.
  • Increase in the Long-Term Holders: The surge in the price of Ethereum will also depend on the holders. If there are maximum short-term holders then there are maximum chances for the price to rise temporarily as these holders look for short-term profit and exit the market after they make some profit out of their investment. Therefore, for the price of ETH to rise, there must be an increase in the number of long-term holders,
  • Government Action: Recently the role of governments around the world has influenced the price of cryptocurrencies including Ethereum. The crypto ban by China led to the crypto market crash, and the increase in the Fed’s rate has also played a major role in determining the price of cryptocurrencies. Therefore, any positive move by the Government of bigger economies will benefit the crypto market and any negative move will lead to a crash.

How High Will Ethereum Go This Year: A Video Analysis

YouTube video

Read: ETH Price Prediction

Note: Crowdwisdom360 collates Predictions and data from all over the net and has no in-house view on the likely trends in the Stocks or Crypto Coins. Please consult a registered investment advisor to guide you on your financial decisions.

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