Traders Union answers the question: “Will Ethereum go up?”

March 14 11:04 2023
Ethereum is one of the most popular cryptocurrencies. However, as is the case with other digital coins, its price considerably dropped after 2021. TU experts answer the questions of whether Ethereum will go up again and what to expect from this coin.

Ethereum is the second largest cryptocurrency behind Bitcoin in terms of popularity and market capitalization. The Ethereum blockchain is, in fact, superior to the blockchain of the most popular cryptocurrency in the world by many technical parameters. The coin is actively developing, although its price has considerably dropped along with other cryptocurrencies after 2021. In the article by Traders Union experts, traders will learn about prospects of the digital coin and find an answer to the question: “Will Ethereum go up?”

What factors impact the ETH price?

Several important factors influence the Ethereum price, including the following:

  • Macroeconomic indicators and technical analysis indicators;
  • Attitude of state regulatory authorities towards Ethereum and cryptocurrencies in general;
  • Technical innovations and revolutionary decisions (for example the launch of Ethereum 2.0);
  • Coin’s popularity in the media and social networks, number of publications and posts;
  • Speculative capital at a specific moment in time, as short-term investors eagerly work with cryptocurrencies.

Ethereum generally follows the laws of the cryptocurrency market. Therefore, the cryptocurrency price will rise against the overall market growth, even with no substantial reasons for such growth. The same applies to the situation, when the market dramatically declines.

What are the prospects of Ethereum?

The Traders Union made Ethereum price predictions for the next few years. In particular, the following scenarios are possible for the ETH price in December 2023:

  • Pessimistic prediction – $2,465.
  • Interim prediction – $2,739.
  • Optimistic prediction  – $3,013.

Experts believe the ETH price will also rise in the medium term. Their predictions for December 2025 are as follows:

  • Pessimistic prediction – $4,649.
  • Interim prediction – $5,166.
  • Optimistic prediction  – $5,682.

Therefore, traders can invest in this cryptocurrency in the medium term. For example, the coin can be bought on ByBit. The exchange charges low fees and offers convenient options for buying assets.

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