Bittime - Ethereum (ETH) price has successfully broken through the psychological level of $4,000. Crypto experts and analysts predict that bullish could continue.
So, is this the right time to invest in ETH? Read this article to find out the expert's Ethereum price prediction!
Ethereum Price Prediction: ETH Buy Opportunity
Ethereum price recently surged past the $4,000 level, fueled by optimistic market sentiment and large inflows into Ethereum ETFs.
Crypto market analyst SmileyCapital says that now is a golden opportunity to buy ETH. He even said that $4,000 could be the “cheapest” Ethereum will see for a long time.
This Ethereum price prediction is reinforced by the predictions of several other experts. Trader McKenna predicts that the institutional narrative and FOMO towards Ethereum Spot ETFs will grow stronger towards the first quarter of 2025.
Ethereum Price Prediction: Ethereum ETF Inflows
According to SoSoSo Value data, Ethereum ETFs recorded net inflows of $855 million just from December 9 to 13. This is the highest record ever achieved so far.
ETFs managed by BlackRock (NASDAQ:ETHA) recorded the largest inflows at $523 million in a single week.
Meanwhile, Fidelity’s ETF (NASDAQ:FETH) followed with $259 million in inflows. The ETF’s total net assets were $13.8 billion as of Dec. 13.
With this increase, analysts believe that support from large institutions will push Ethereum prices to even higher levels.
Ethereum Price Prediction: Whale Activity
One positive sign for Ethereum is the increase in whale activity on the Ethereum network. Data from IntoTheBlock shows that large transaction volumes increased by 3.8%, even though the number of daily active addresses decreased by 3.7%.
Meanwhile, data from Coinglass recorded the liquidation of $56.8 million of Ethereum short positions, the highest since August 5. This was followed by a 9.5% surge in open interest to $29.7 billion in just one day.
ETH derivatives trading volume also increased by 124%, indicating increasingly intense Ethereum market activity.
Ethereum Next Price Prediction
The next Ethereum price prediction according to experts is that Ethereum's price surge to $4,000 is not the end of this rally.
Positive momentum supported by institutional interest, ETF inflows, and increased whale activity could push ETH price to higher levels.
Crypto analyst Wolf asserts that Ethereum's current chart shows more explosive potential than any other crypto asset. According to him, no other chart has the potential to rise as much as ETH in the short term.
Also Read: Top 5 Meme Coins on the Ethereum Network, Including Shiba Inu and FLOKI!
Ethereum FAQs
What is Ethereum?
Ethereum is a blockchain-based platform that allows developers to build and run DApps. Using smart contracts, Ethereum ensures that transactions and agreements are executed automatically without the need for intermediaries.
1 ETH How Much Rupiah?
Currently, 1 ETH is worth Rp64,826,890 according to the Bittime market.
1 ETH How Much USD?
Currently, 1 ETH is worth $4,017.45 according to Coinmarketcap.
How to Buy Crypto on Bittime
Want to trade and buy Bitcoin and invest in crypto easily? Bittime is ready to help! As an Indonesian crypto exchange officially registered with Bappebti, Bittime ensures that every transaction is safe and fast.
Start by registering and verifying your identity, then make a minimum deposit of IDR 10,000. After that, you can immediately buy your favorite digital assets!
Check BTC to IDR , ETH to IDR , SOL to IDR and other crypto assets rates to find out today's crypto market trends in real-time on Bittime.
Also, visit Bittime Blog for interesting updates and educational information about the crypto world. Find trusted articles about Web3, blockchain technology, and digital asset investment tips designed to enrich your knowledge in the crypto world.
Reference
Khyathi Dalal, Ethereum Price Soars Past $4,000: What Is Going On With ETH?, accessed December 17, 2024.
Steven Anderson, Ethereum Price Surge After $17.5M Stake, Institutional Interest Builds, accessed December 17, 2024.
Author: IPR
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