The Ethereum price could see a stronger increase again in the coming months. With the coming year 2024, the next bull market is very likely to be around the corner. The $10,000 mark, which some analysts saw as early as 2021, should be just around the corner. But how high could the Ethereum price rise at the top of the bear market? Let’s analyze in this Ethereum price prediction article!
How did Ethereum Perform in the last few weeks?
The Ethereum price has seen more of a sideways movement in the last few weeks. The year 2023 started with a strong increase. At the turn of the year, the ETH rate was still below $1,200. After the rise of the first weeks of the new year, the ETH price rose by almost 50% to $1,700.
After a brief crash at the beginning of March, the Ethereum price rose sharply again and saw the breakthrough above the $2,000 mark in April. After peaking at $2,100, the price has fallen back below $2,000 in recent weeks. The ETH price recently moved between 1,800 and 1,900 dollars.
How much can the ETH price rise in the bull market?
The Ethereum price was able to see a significant increase again in 2023. However, the price is still well below the all-time high of $4,800 from 2021. But after the Bitcoin Halving in April next year, the new bull market should start, in which the Ethereum price could also rise massively again.
In the last bull market, the ETH price was also able to rise extremely sharply. At the lowest point of the previous bear market, the Ethereum price was still 80 dollars. From there, the price was able to rally to $4,800, a 60-fold increase.
In bull markets, altcoins such as Ethereum usually see larger percentage increases than the Bitcoin price. However, the price increases of Bitcoin and Ethereum have also converged in recent years.
Ethereum Price Prediction: Can Ethereum reach $20,000?
Based on this experience, the Ethereum price can still rise very sharply in the coming months until the bull market. The low of the last few months was slightly below the $1,000 mark. Therefore, a rise by a factor of 10 to $10,000 in the coming bull market should be feasible.
An increase by a factor of 60 will very likely not happen again. But a 20x rally from the bear market lows to the next all-time bull market high definitely seems possible. An Ethereum price of $20,000 in the next bull market therefore seems quite likely.
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