The post Ethereum (ETH) Price Predictions for 2024: Analysts Forecast Significant Gains appeared on BitcoinEthereumNews.com.

Ted Hisokawa Aug 14, 2024 15:28 Ethereum (ETH) price predictions for 2024 highlight potential significant gains, driven by ETFs and technological advancements, according to CoinGecko. Ethereum (ETH) is set to experience significant gains in 2024, driven by the potential approval of Ethereum ETFs and advancements in blockchain technology, according to CoinGecko. Despite trailing behind Bitcoin (BTC) in recent performance metrics, analysts are optimistic about Ethereum’s future price trajectory. What Is Ethereum’s Price Prediction for 2024? Top analysts and financial outlets have predicted that Ethereum could reach an average of $6,404 by the end of 2024. The price predictions range widely, with CryptoNews forecasting the lowest at $4,443.63, while Cathie Wood of Ark Invest has the highest prediction at $166,000. VanEck also presents a bullish scenario with a prediction of $154,000. However, most of these high-end predictions are based on longer timeframes, with Bernstein, QCP Capital, and Standard Chartered offering more conservative estimates of $6,000 to $8,000 within the year. The potential approval of Ethereum ETFs could have a significant impact on its price. A Grayscale survey conducted between April 30 and May 2, 2024, revealed mixed sentiments among investors. While 25% of respondents believe ETF approval would boost Ethereum’s capital inflows, another 25% think it would not impact the investing thesis. The survey also highlighted that 43% of respondents were unfamiliar with the concept of a spot-traded Ethereum ETF, indicating a need for extensive marketing efforts if ETFs are approved. Analysis of Ethereum Price Predictions As of August 6, 2024, Ethereum’s price has plunged 15.5% over the last 30 days, hovering around $2,600. This decline is reminiscent of the price drop in April 2022, following the Federal Reserve’s interest rate hikes. The Fed fund futures predict three rate cuts by the end of 2024, with the first one expected in…

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Filed under: News - @ August 16, 2024 6:20 am