The post Surprising Ethereum price prediction: $18,000 on the horizon? appeared on BitcoinEthereumNews.com.

What do experts think about Ethereum’s potential to reach $18,000 soon? Analyzing the latest predictions and market trends. August 5 marked what many are calling crypto black Monday, a day of intense market turmoil that saw Ethereum (ETH) and other crypto assets experience dramatic price drops.  Amid a widespread sell-off in the global financial markets, ETH’s price plunged to a low of $2,100, a steep 22% decline, representing its largest one-day drop since May 2021.  Moreover, ETH’s price has declined even more, as bears slacked it up by 3% in the last 24 hours, bringing it to around $2,430 levels as of August 8.  ETH 6-month price chart | Source: TradingView Meanwhile, the broader picture also remains bleak, with ETH still down about 24% over the last 7 days, even with the modest recovery. Adding to the intrigue, market activity around Ethereum-related financial products showed mixed signals. On August 6, spot ETH ETFs saw their second-largest one-day inflow of over $98 million. In contrast, there was a net outflow of about $24 million on August 7. To better understand what’s happening with ETH, let’s delve deeper into expert opinions and factors to gauge Ethereum’s price prediction amid the current volatility. What do experts think? Amid the recent turmoil in the crypto market, experts have weighed in with insights that shed light on Ethereum’s performance and future prospects.  On August 6, Michaël van de Poppe highlighted two key developments for Ethereum. Firstly, he noted that ETH became deflationary, with its supply decreasing at an annual rate of 0.812%. ETH becoming deflationary means that more ETH is being burned than created, a positive sign for its value. Two massive events took place yesterday. First, $ETH became deflationary, the supply decreased at a 0.812% yearly rate yesterday. Secondly, on-chain performed really well, as…

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Filed under: News - @ August 10, 2024 5:16 am