Ethereum Price Prediction | Is ETH a Good Investment?

How will the recent market crash affect ethereum price prediction? Experts weigh in on possible outcomes.

The cryptocurrency market has been experiencing extreme turbulence over the past 24 hours. bitcoin (btc), the leading cryptocurrency, plummeted to a new low of $53,700 on July 5.

The market-wide sell-off intensified following reports that Mt. Gox, the infamous cryptocurrency exchange that collapsed, transferred over 47,000 btc (worth approximately $2.6 billion) to a new wallet in preparation for a large-scale payout totaling approximately 142,000 btc (valued at $7.9 billion at current prices).

On July 5, during Asian trading hours on Friday, the trustee of Mt. Gox officially confirmed that the exchange had made payments in bitcoin and bitcoin Cash to some of the rehabilitation creditors, although the exact amount of btc sent was not specified.

The domino effect of this panic selling spread across the altcoin market, leading to steeper declines. ethereum (eth), along with almost all of the top ten altcoins, plummeted by 10-20%, and ethereum lost the crucial support level of $3000, marking the largest drop since the FTX crash.

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According to Coinglass dataIn the past 24 hours, 221,704 traders were liquidated. Total bitcoin liquidations reached $200 million, while ethereum liquidations were around $160 million.

Despite this turbulence, btc has shown some signs of recovery, trading around $55,400 as of July 5. ethereum has not been so lucky, however, trading below the $3,000 mark at $2,940, marking a 6.75% drop over the past 24 hours and roughly 15% for the week.

Let’s dive into the major events impacting ethereum and explore what we can expect in terms of ethereum price predictions.

<h2 class="wp-block-heading" id="whats-next-for-ethereum“>What's next for ethereum?

The future of ethereum looks eventful and potentially transformative. One of the most anticipated developments is the launch of ethereum-based cash exchange-traded funds (ETFs).

Asset manager Bitwise has recently filed an amended S-1 form for an ethereum ETF, indicating that these products are almost ready for launch. The deadline for this filing was July 8, and it suggests that we could see these ETFs listed soon.

Bloomberg ETF analyst James Seyffart mentioned on social media that Bitwise’s amended S-1 form is a positive sign. He expects more issuers to follow suit in the coming days and predicts that these ETFs could begin trading next week or the week of July 15.

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The move comes after the SEC approved Form 19b-4 filings for eight spot ethereum ETFs on May 23, including Bitwise. However, for these ETFs to begin trading, their S-1 filings must become effective as part of a two-step regulatory process.

Eric Balchunas, another senior ETF analyst at Bloomberg, twitter.com/EricBalchunas/status/1808579028405625196″ data-type=”link” data-id=”https://twitter.com/EricBalchunas/status/1808579028405625196″ target=”_blank” rel=””>noted that the SEC's delay in approving these ETFs has been puzzling, given the minimal feedback received.

There is speculation that the delay could be due to a problem with a broadcaster or simply the usual slow pace of summer with people on vacation. Despite these delays, all indications are that the launch will take place this month.

The introduction of ethereum ETFs is crucial because it allows more investors to gain exposure to ethereum without directly purchasing the cryptocurrency.

However, in light of current market uncertainties and bearish sentiment, the impact these ETFs could have on ethereum price appreciation remains uncertain.

Experts are wondering what's brewing?

Following the recent market turmoil, experts have shared their thoughts on what the future may hold for ethereum and the entire cryptocurrency market.

Ali, a cryptocurrency analyst, mentioned a large outflow of capital from the market. In March, the market was worth over $110 billion, but it has now shrunk to just $20 billion, indicating a decline in investor confidence that could continue to put downward pressure on prices.

Ali also spoke about the current cryptocurrency cycle, mentioning the approval of bitcoin ETFs, the rise of meme coins, and celebrities launching their own altcoins, and asked if the market has already peaked. He suggested that btc needs to break above $61,000 levels for the uptrend to resume.

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Amid this, Peter Schiff, a prominent cryptocurrency critic, expressed concerns about ethereum breaking key support levels and trading below $2,900, marking a 30% drop from its March high.

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Schiff believes ethereum could fall further to $1,500, noting that investors who were waiting for Ether ETFs are now selling ahead of the launch of these products.

Adding fuel to the fire, Michaël van de Poppe, another cryptocurrency analyst, pointed out that ethereum has hit its lowest relative strength index (RSI) on the daily chart since August 2023.

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He also noted that many altcoins are experiencing their lowest RSI levels in history, indicating a marked market capitulation.

Meanwhile, another cryptocurrency analyst offered a more optimistic view. He acknowledged that while the current pullback is challenging, it is still relatively minor compared to previous cycles.

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<h2 class="wp-block-heading" id="ethereum-price-prediction-a-bounceback-possible”>ethereum Price Prediction: Is a Rally Possible?

Looking ahead, many experts have shared their predictions about ethereum for the coming years. Let's analyze them year by year.

ethereum Price Prediction for 2024

By 2024, Digitalcoinprice predicts that the price of ethereum could range from a low of $2,648.22 to a high of $6,412.82, with an average price of $6,166.53.

Coincodex is a bit more optimistic, predicting that by August 4, the price of ethereum could rise by 4.10% to around $3,005.95.

These forecasts suggest some growth, but market sentiment remains cautious.

ethereum Price Prediction for 2025

In 2025, Digitalcoinprice expects eth to see further growth, predicting prices between $6,343.49 and $7,643.08, with an average price of $7,511.09.

Coincodex also sees potential growth, estimating that eth could fluctuate between $2,887.55 and $6,579.89.

Despite the variation, both sources agree on an upward trend.

ethereum Price Prediction for 2030

Looking ahead to 2030, predictions become even more optimistic.

Digitalcoinprice predicts that ethereum could reach between $19,899.44 and $21,831.38, with an average price of $20,751.58.

Coincodex, while more conservative, still predicts a substantial increase, with prices ranging between $6,378.65 and $11,950.

These long-term forecasts reflect growing confidence in the future of ethereum and its potential to reach huge values.

When considering these eth price predictions, it is essential to remember that these forecasts can and often do fail. The cryptocurrency market is highly volatile and many factors can influence prices. Therefore, it is crucial to do your own research (DYOR) and never invest more than you can afford to lose.

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