The price of Ethereum is trending downward following the successful implementation of “The Merge” and its transition to Proof-of-Stake (PoS) consensus. Launched on the mainnet in September, ETH has been losing price rapidly since then.
At the time of writing, Ethereum price is trading at $1,298 with sideways movement during today’s trading session and a 5% loss over the past 7 days. The second cryptocurrency in the market is following the general sentiment in the market as macroeconomic factors pushed the nascent asset class down.
Hope for Ethereum Price, How Long Should You Hold ETH?
according to a Survey Powered by Finder with 5 experts, Ethereum price has limited bullish potential for 2022. Experts believe that this cryptocurrency will continue to move sideways for the rest of the year.
With current macroeconomic conditions, the price of Ethereum will be limited by tight financial conditions and liquidity. Thus, ETH is likely to remain at its current level or rise from $1,360 to $1,377 until the end of 2022.
As seen below, the cryptocurrency is likely to gain momentum in 2023 and 2024. This will take the price of ETH from its current levels north of its previous all-time high of $4,000.
After that, the upside trajectory of Ethereum will be much faster, according to experts, with the potential to reach a new all-time high in late 2024 or early 2025. Over the next decade, the cryptocurrency could rise to $11,700, according to most conservative experts.
Others believe that the price of Ethereum could climb to $14,000, $23,300 and even $26,000 in the same period. Experts believe that the US Federal Reserve (Fed) and its interest rate hike program will be its biggest obstacle to future appreciation.
Anton Altement, CEO and co-founder of Ossome Finance, is one of the fast experts. He told the Finder the following:
All-round market pessimism driven by the Fed’s actions and the still locked ETH staking are the key factors holding the price back. The former should disappear by December, the latter by next spring – those 2 events will unlock the next stages of the rally.
Could ETH Go Lower in 2022?
In this sense, most of the experts claimed that the price of Ethereum could get down around $1,000 to $900 in 2022. These could be good levels for long-term holders looking to profit for future appreciation.
However, as long as the US Federal Reserve maintains its tight agenda, the price of Ethereum is likely to remain limited. For 48% of the respondents, a low ETH value is an opportunity to buy the cryptocurrency. Alexander Kuptsikevich, senior analyst at FxPro, said:
Ethereum has found itself in an area where it enjoys support from long-term investors. Crypto investors may remain cautious for a few more months or a few quarters, but we can expect an active bull market to return as soon as next year.
Credit : www.newsbtc.com