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ETH is expected to drop as low as US$2.7K and peak at $6K.
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64% of panellists think ETH is currently underpriced and will end the year at around $5.4K.
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A combined BTC and ETH ETF to have a significant positive impact on ETH’s price according to the panel majority.
PRESS RELEASE – Ethereum (ETH) is expected to have a volatile 2024, with the crypto and fintech specialists from Finder’s Ethereum Predictions Report predicting a drop below $3K, as well as an all-time-high of $6K in 2024.
Senior Market Analyst at FXPro, Alexander Kuptsikevich, predicts ETH will drop as low as $2,806 but reach a peak of $6,200 in 2024.
“We have witnessed a bull market in crypto since last year. The recent decline was just a correction on the way up. ETH got support after the price closed to the $2,800 area in July as it was in April and May,” he said.
The majority of panellists agree, with 64% saying ETH is currently underpriced. Pedro Febrero VP of Web3 at Realfevr put it this way:
“ETH is underpriced considering 90% of all cryptos protocols + devs, use the Ethereum Virtual Machine (EVM). It’s the de facto world computer. Plus the ETF which will put $eth on a similar level to $btc for institutional buyers.”
While the panel average suggests that ETH could end the year at around $5.4K, Daniel Polotsky, Founder and Chairman at CoinFlip, is even more bullish with an end-of-year prediction of $8,000.
“It seems like during periods of speculation and euphoria, risk assets like ETH outperform BTC. Since we are coming out of a period of high interest rates and entering a post-halving, lower-interest-rate phase, it is possible that a speculative bubble forms. This may help Ethereum even more so than Bitcoin and cause a boom in its price,” he said.
“Ethereum will also be bolstered by Ethereum ETFs, which will begin trading shortly. Ethereum continues to provide scaling and restaking solutions but also has competitors such as Solana nipping at its heels. While it will likely survive this cycle as the top non-BTC dog, it cannot rest on its laurels if it wants to continue its reign as the number 1 alternative crypto asset.”
Nicole DeCicco, CEO at CryptoConsultz, agrees that the ETH ETF could prop prices up and is part of the 54% that thinks it will have a significant positive impact on ETH’s price.
“…The introduction of Ethereum ETFs is poised to have a significant impact on its price. These financial products provide traditional investors with easier access to Ethereum, broadening its appeal and increasing market liquidity. ETFs encourage more institutional and retail investors to gain exposure to ETH, driving demand and supporting higher price levels…”
Josh Fraser, co-founder of Origin Protocol, thinks the price impact could even go beyond what we’ve seen with Bitcoin.
“Ethereum ETF inflows have the potential to impact the price of ETH even more than Bitcoin ETFs impacted the price of Bitcoin. I anticipate ETH ETFs will be a major catalyst for both ETH and the broader industry, and that ETF inflows will bring the price of ETH above $10,000 in the mid-term,” he said.
However, not everyone is so positive. Desmond Marshall, MD at Rouge International, thinks ETH is priced fairly and will hover between $3,000-$3,800.
“Too many celebrity knockoff tokens are still in the market, trying to cash in on the inexperienced. ETH is very heavily manipulated by the team behind, and when the crypto market is booming, most likely when Trump takes on the presidency, there will be a new wave of meme coins, NFTs, etc. back in the mix to mess with normal people,” he warned.
Markus Kraus, founder of Trading Verstehen, is also part of the 25% that thinks ETH is priced fairly but notes that “technological advancements, including Ethereum 2.0 upgrades, will likely enhance its utility and adoption” and “regulatory clarity and the deflationary mechanism from EIP-1559 will also support its value.”
The majority (64%) of Finder’s panel think it’s time to buy ETH, while 29% say it’s time to hold, and just 7% to sell.
You can find the full report here: https://www.finder.com/uk/
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