For the current period, it is estimated that the value of Ethereum digital currency will continue to fall. But on the other hand, it is assumed that with the new year 2024, the situation will improve. And thanks to a large army of fans, Ethereum will be able to return to its former heights. Of course, price fluctuations are not easy to predict, but due to Changelly`s forecast, the ETH’s utmost value will amount to $2,335.25. As per DigitalCoin`s data analysis, the ETH price may exceed the level of $2,543.28.
This provides the conclusion that the long-term forecast for the ETH rate will only increase. Optimistically, the average cost is expected to reach $3,018.69 in 2024 as per Changelly’s forecast, while DigitalCoin believes in the mark of $4,131.74.
As for 2025, Ethereum is waiting to get to the all-time high it has reached before. CoinPedia estimates that the ETH coin price could create a new record level of $4,925. Following PricePrediction`s predicts that in 2025 the second coin by capitalization may approach $5,124.95, in 2026 its maximal rate is expected to be around $7,573, and if everything goes well, the topmost mark may well exceed the bar of $11,000. But we should not forget about the fickleness of the cryptocurrency market, where the state of affairs can turn upside down in an instant.
Is it worth investing in ETH?
The predominantly increased demand for the coin was once contributed by the widespread use of smart contracts. Many market participants agree with the opinion that in the future contracts of this type will be widely applied as an intermediary for transactions in the blockchain.
To date, Ethereum has been the choice of many investors. Since its volatility is higher than that of BTC. It means that you can get more profit from the difference in exchange rates. It is especially advised for beginner investors to purchase Ethereum. After all, the coin can also work as an intermediate asset as it is easy to exchange it for another cryptocurrency.
To get the opportunity to regularly earn on changes in the exchange rate of ETH, a trader just needs to register on one of the popular exchanges and replenish the account there or make an automatic conversion e.g. HNT to ETH on Godex, not forgetting the key rule to invest only those amounts that can afford to lose.
What influences the change in the Ethereum exchange rate?
In the case of this coin, you can not overlook such factors as:
- The introduction of certain technologies;
- Domestic economy;
- International politics;
- The situation with BTC;
- Speculation;
- Degree of security;
- Mass media.
Since the very appearance of Ethereum on the market, a large number of traders have shown a keen interest in this coin. And many people today apply the coin in various financial transactions. The listed behavioural points have a significant impact on cryptocurrency. Price correction in this case can occur in both directions.
The fluctuations in the rate of this virtual currency are also seriously influenced by the development of blockchain. As for intra-economic factors, they include the activity of using digital money, the complexity of mining, the parameters of financial transactions, and the number of commission charges.
Additionally, the price is influenced by the ability of creators to identify and eliminate weak points in time. Thus, in 2016, the Ethereum network was hacked. However, the developers did work on the mistakes. Since then, it has become more reliable and the loyalty of traders around the world has grown.
If we talk about countries, each state treats the fact of the existence of digital currency and its use differently. Some countries encourage its circulation as a full-fledged means, others have banned it, and the third are still unable to make a choice. News from the world of cryptocurrencies is also essential.