- Ethereum’s price is likely to rise after Bitcoin’s halving and surpass its all-time high by June 2025.
- Because of its usability and staking benefits, expert sentiment on Ethereum remains positive despite recent price drops.
With the impending Bitcoin halving on April 20, 2024, looming close, all eyes within the cryptocurrency market have shifted their gaze towards Ethereum, the digital asset second only to Bitcoin in terms of overall market cap.
Many proponents and investors have speculated how this occurrence may affect other digital currencies, including Ethereum.
Currently trading hands at $2,984.57, down a noticeable 2.73% across the past 24 hours and a more substantial 14.62% over the preceding seven days, as per data from CoinGecko, Ethereum has endured some volatility of late.
Despite these fluctuations, analysts remain optimistic, forecasting a bright future for Ethereum and pointing towards promising predictions that see increased adoption and integration within decentralized applications and platforms.
One day after the Bitcoin halving, Ethereum might reach $3,171.61, according to a thorough analysis by well-known cryptocurrency data source Changelly. Long-term growth prospects could be much more impressive.
Changelly projects that the ETH price may surpass its previous all-time high by June 2025, possibly hitting a new high of $4,964.07.
The State of the Market and Ethereum’s Future
Alex Krüger, a renowned trader and economist, made observations that support the forecasts. According to a previous ETHNews report, Krüger thinks that despite the present downturns in ETH, the utility of Ethereum and the rewards associated with staking are solid signs that the cryptocurrency may hit new all-time highs.
I fully expect $ETH to trade ATH. I am long $ETH. I use $ETH. It is useful. It is decent collateral and great for staking. $ETH undeperforms though. Those not using it for staking are down bad. The reason is simple. Most people in crypto already own too much $ETH. I've been…
— Alex Krüger (@krugermacro) April 15, 2024
Popular cryptocurrency expert Captain Faibik added to the optimistic sentiment by saying that the ETHBTC pair is ready for a comeback on the social networking platform X. It appears to be bouncing off the lower line of its Down Channel pattern, which might soon spark an altcoin rally, according to him.
$ETHBTC will bounce back very soon and lead the altcoin Rally. 📈#Crypto #Ethereum #ETH pic.twitter.com/Lt5Uf0Nvj2
— Captain Faibik (@CryptoFaibik) April 12, 2024
Forecasts for Prices and Analytical Understanding
Additionally, Changelly’s estimate for April 2024 is positive, predicting an average ETH price of $3,139.16 with a price range of $3,088.52 to $3,189.79 at the lowest and highest, respectively.
These forecasts highlight Ethereum’s substantial upside potential in the upcoming year, particularly if market sentiment stays upbeat. For a more in-depth look at these developments, you can see this YouTube video.